Gold coin salesman orchestrated plot to set up rival, court finds

A Financial Times report details a High Court ruling that several former Hattons of London gold coin salesmen unlawfully extracted confidential customer data to help launch a rival business, Knightsbridge Collection. The judge found the conduct “dishonest and reprehensible,” and issued an injunction preventing the use of the data. The case matters for the bullion retail market because it comes amid strong demand for gold coins, supported by a multiyear rise in gold prices and UK tax advantages for certain bullion products. Hattons says it has reviewed policies, contacted affected customers, and plans to seek substantial damages. Knightsbridge Collection has since entered creditors’ voluntary liquidation. The article highlights legal and reputational risks in the expanding gold retail sector rather than any immediate price impact on gold itself.