In the environs of the Savoy Hotel, a discreet glass door marks the gateway to gold retailer ATS Bullion, writes Helen Warrell .

Furtive men clutching holdalls and rucksacks slipped through the entrance to the marble-clad lobby, evading the FT's questions on their way to the company's offices on the second floor. Mainly first-time gold buyers, customers were anxious to unload their cash inside the imposing security chamber and claim what they could of dwindling bullion supplies.