Gold dealer sees rush on business

Mr Birch said people were cashing in on broken jewellery and odd earrings

A Norfolk gold dealer claims trade is booming as customers rush to cash in on the high price of the precious metal.

Charles Birch, of the Gold and Silver Exchange in Great Yarmouth, said business had picked up since stocks and shares had plummeted.

Mr Birch said he was buying more gold jewellery than he could sell, and what was left over was sold for scrap to bullion dealers.

Gold reached a record price of more than $1,000 (£571) an ounce in March.

"Instead of a downturn in trade our volume of trade has increased dramatically especially this year," said Mr Birch.

"We've seen a downturn in retail sales but also we've seen a huge increase in the gold price, so people are cashing in on the broken bits of jewellery and the odd earrings.

"There are some people who need to sell those because they need to raise some money."