TIMESONLINE: An internet gold-trading scheme is growing fast
PAUL TUSTAIN is one London entrepreneur who can afford to look on the bright side of the economic slow-down. Five years ago the financial software specialist saw the potential of gold trading and had the confidence to back his own judgment.
He set up Galmarley, a research company focusing on gold, and then, two years later, launched BullionVault, an online exchange for trading gold bullion, run from offices in Hammersmith, west London. “The credit crunch means we are doing a lot more business,” says Tustain, 45. “It’s hard to hold on to the value of assets through economic crisis - gold is a way of doing that.”
BullionVault enables participants to buy and sell high-quality gold by the gram. Anybody with £2,000 or more to spare might think of pitching in. It attracts, says Tustain, the kind of people who are “appalled by the monetary and fiscal mismanagement of governments, most notably in the United States and the UK. They no longer trust the currency”. Key to Riches in an Uncertain Climate? >>> By Jane Ure-Smith | September 14, 2008
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