Pawnbrokers cash in on unwanted gold

PAWNBROKING chain H&T yesterday said demand among recession-hit consumers to swap their unwanted gold for cash had more than tripled scrap profits for 2009. The group – the UK's largest pawnbroker – now expects full-year profits at the top end of forecasts as it reaps the rewards of rocketing gold prices and a burgeoning market to trade in the precious metal.
By The Newsroom
Published 22nd Jan 2010, 20:30 BST
Updated 22nd Jan 2010, 20:37 BST

Its update came a day after the consumer watchdog launched an investigation of five companies offering cash for gold by post. However, H&T said it was not one of the five firms being investigated.