Gold Standard reaches $1m mark in purchases
Gold Standard Bermuda has marked reaching the milestone of $1 million in gold purchases with a $500-a-day giveaway.
The giveaway is open to all customers who cash in on a minimum of $200 in gold items with draws taking place daily at the store in 61 Church Street, Hamilton.
The Royal Gazette originally reported on the company's success last month as Bermudians rushed to cash in on their gold jewellery and coins.
“We're very pleased to have reached the $1 Million mark in just under six months of operation,” said partner Jonathan Hitchcock. “We began this promotion on August 15 and intended to run it for one week only. However, the response has been so overwhelming we decided to extend it for one further week to give more people the chance to win.”
With gold prices touching record highs and up more than 11 percent over the past month, there has been a built-in incentive to sell.
“Gold prices have certainly outperformed our expectations and I think a lot of people are taking advantage,” said Mr Hitchcock. “It's hard to imagine the market having support at the current levels for the long-term, but for the moment it's definitely a seller's market.”
Five winners have been selected so far with five more to come. The promotion ends on Friday, August 26.
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