Gold prices drive trade at Townsends

JEWELLERY retailer Townsends, which has shops in Wakefield and Wetherby, saw trading in secondhand and scrap jewellery rise by a third last year as customers capitalised on the highest gold prices for a decade.

Director Michael Townsend said trade in all areas was up in the 12 months to May 2011, reflecting a rise in demand across the jewellery sector of 17 per cent on the previous year.

The firm’s turnover in scrap gold was £250,000 over the last 12 months.

Mr Townsend said: “Prices are currently being driven by demand from China and India and this is likely to continue during 2011 as economic growth in Asia remains strong.”