Wanting to invest in gold in 1999, computer programmer Paul Tustain discovered how hard it was for small investors to get good rates. These were reserved for big players that traded gold bars with a minimum $500,000 price tag. Using his programming skills, he set up a trading website allowing retail customers to acquire shared ownership of these bars, stored in accredited vaults. Thanks to the booming gold market and the support of the World Gold Council (an association of the world’s leading gold-mining companies), sales grew 106% a year, from £31.8m in 2006 to £277.1m in 2009. Turnover represents amounts receivable for sale of gold and services to customers.
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