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OFT exposes gold-buying firms

Three firms who offer to buy people's gold and jewellery for cash have been named and shamed by the Office of Fair Trading.

Hundreds of customers complained about the companies CashMyGold, Cash4Gold and Postal Gold - all of whom have promised to change the way they do business.

Two others have ceased trading following the OFT investigation.

Our Personal Finance Correspondent, Simon Gompertz, reports.

Correction 16 February 2011: An earlier version of this item mentioned a company called CashforGold instead of Cash4Gold. We would like to make clear that CashforGold has not been under investigation by the OFT and is not connected with Cash4Gold.

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