OFT clamps down on gold-for-cash firms

CashMyGold, Cash4Gold and Postal Gold have been warned to make changes while CashYourGoldNow and Money4Gold have had to cease trading already following investigations. The OFT says people were being locked into accepting the offer that had been made for their gold. It was particularly concerned with the practice of sending consumers a payment and taking any ‘silence' within restrictive time periods as a sign of acceptance. Heather Clayton, senior director of the OFT's Consumer Group, says: "These days we see more and more new business models which involve consumers distance selling...