Business
Brits cashing in jewellery as gold price hits record high
Pawnbroker Ramsdens has significantly upgraded its annual profit forecast, attributing the boost to record levels of lending as consumers increasingly turn to their jewellery for cash amidst soaring gold prices.
The lender and retailer noted the precious metal’s higher price was driving demand and bolstering profits.
Pawnbroking lending hit record levels in February, continuing into March, and boosting its loan book by 18 per cent since the financial year ended in September.
Ramsdens’ service allows individuals to secure loans against jewellery or watches.
The company also purchases unwanted items for resale in stores, online, or to bullion dealers. Furthermore, revenues from its jewellery shops climbed by approximately a quarter year-on-year.
It comes as the price of gold has rallied to reach record highs at points during 2026, as investors sought refuge during global geopolitical uncertainty, conflict and worries about tariffs.
The most recent spike occurred at the beginning of March following the escalation of conflict in the Middle East, with gold hitting around $5,400 (£4,040) an ounce.
The average gold price for the year-to-date is about 50 per cent higher than last year, and the geopolitical and economic climate could mean it remains elevated throughout the months ahead, Ramsdens said.
The London-listed business told investors that owing to stronger trading in the first five months of its financial year and the outlook for gold prices, it was now expecting to make an annual pre-tax profit of at least £24 million, which could rise to as much as £28 million.
Analysts had previously been forecasting a profit of £21.1 million for the year to the end of September.
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Chief executive Peter Kenyon said: “In addition to underlying progress across the business, we continue to benefit from the high gold price, which is significantly boosting both customer demand and profits within our purchase of precious metals segment.”
Russ Mould, investment director for AJ Bell, said: “This is the second profit forecast increase of 2026, following on from February’s trading update, and means Ramsdens is now on track to post record annual earnings in the 12 months to September 2026.
“The good news is it is not just the soaring gold price that is doing the heavy lifting.
“Ramsdens reports strong sales of jewellery and rapid growth in the pledge book at the pawnbroking operation, while the foreign currency exchange business seems steady, although there remains a chance that the conflict in the Middle East has an impact there at some stage.”
Ramsdens’ shares jumped by about a tenth on Wednesday.
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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A United Airlines plane approaches the runway at Denver International Airport on March 23, 2026.
Al Drago | Getty Images
United Airlines flight attendants approved a new five-year labor contract with 31% average raises to base pay by August and other improvements, marking the last of the major carriers with unionized flight crews to reach a deal post-Covid.
The labor deal would give United’s roughly 30,000 flight attendants their first raises in close to six years. The company and the flight attendants’ union reached a preliminary deal in March. Crews had rejected a contract last year.
The union said the contract won 82% approval from the flight attendants, with close to 90% of them voting.
“The contract will immediately change the lives of United Flight Attendants, especially our thousands of new hires who have been hired since the pandemic,” said Ken Diaz, president of the United chapter of the Association of Flight Attendants.
The contract also includes boarding pay, or pay for when the aircraft’s door is open and travelers are getting on. Airlines had for years started flight attendants’ pay clock once the boarding door was closed.
The contract comes with a roughly 7% to 8% increase in compensation and $741 million in back pay, as well as quality-of-life improvements like restrictions on red-eye flights and “sit pay” during disruptions of more than 2½ hours.
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