Precious metals arouse desires – how companies protect themselves

Frankfurt The 500 gram gold bar on display in the conference room of the Frankfurt branch of precious metal dealer Philoro is smaller than a smartphone. It fits in every trouser pocket. And yet it costs more than 27,000 euros. Gold is attractive to thieves precisely because of its compactness. Philoro security chief Sven Schwanke is aware of this. In some companies he has already ensured that goods are prevented from being stolen. But with gold, the value of the goods is significantly higher, says Schwanke. “So there are many people who would do anything to get gold for free.”

The price of gold has risen by more than 50 percent in five years. Other precious metals have also become more expensive, for example copper by almost 20 percent. That arouses desires, as the Hamburg copper manufacturer Aurubis had to find out painfully. On Thursday, the Hamburg public prosecutor’s office had several employees’ workplaces at the Hamburg site and several external companies searched, as several media reported unanimously.