Harrods Bank has become the first UK lender to sell gold online - and it's launched an own-brand bullion bar

 
Helen Cahill
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The own-brand Harrods Bank bar (Source: Harrods)

Harrods is looking to cash in on the rush to safe-haven assets, such as gold, by launching an online service for selling gold bullion bars.

The online service is the first of its kind from a UK bank, and will sell bars from 1g up a 12.5kg, as well as an own-brand Harrods Bank bar.

The lender already sells gold bars in branches, but now customers will be able to buy them in cyber space, too. UK gold-surfers will be able to buy bars from Harrods 24/7, all year round - although one study released today said gold is not necessary a good buy to protect against an economic crash.

Simon Martin, director of distribution, said: "Following the EU referendum, we have seen a dramatic increase in demand for gold from risk-averse investors looking for a well-established, world renowned British brand they know they can trust."

Read more: Investors hold the gold as risk-appetite goes cold

For anyone wanting to get a sneak-peak of the Harrods Bank bar, it will be on display in the window of the Knightsbridge flagship store throughout July.

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