Cash for gold shops facing regulation

Cash for gold shops could be forced to keep records on the identity of people who sell to them and the source of jewellery traded under controls being considered for the industry.

There has been an explosion in the number of these shops in the last three years and 124 operate around the country, driven by the rising value of gold.

Alan Shatter, the justice minister, said it is inconsistent that they are not subject to the same strict laws as pawnbrokers in preventing the sale of stolen items.