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Friday, 30th January 2009 (1939 views)

A jeweller in the West Midlands has claimed that he is defying the recession and has been experiencing a 'gold rush'.

According to David Johnson, managing director of Rex Johnson and Sons, gold jewellery is selling particularly strongly at the moment and his company has switched its emphasis to the precious metal.

Mr Johnson told the Birmingham Post that gold prices have increased sharply over the past year and look set to continue rising.

He revealed that Rex Johnson and Sons was purchasing a gram of 24-c gold for £16.80, with gold reaching some of the highest prices ever during the past 12 months.

Established 35 years ago, Rex Johnson and Sons is a family business with stores in Dudley and Birmingham that collects fine examples of royal and historical jewellery.

Reuters recently reported that gold has become one of the most favoured commodities among investors this year, as global financial markets uncertainty continues.

 

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