Gold News

Germans Dash to Buy Gold "Outside Banks, Outside Eurozone"

A growing number of German investors who Buy Gold today want to store it outside of banks, and also outside of the Eurozone, according to Switzerland's SonntagsZeitung on Sunday.

The newspaper reports that former military and government facilities in the Gotthardmassiv mountain range are being rapidly converted to secure Gold Bar storage sites. The extra capacity is needed by professional storage providers to help German customers, now starting to Buy Gold as the Euro currency crisis wears on, find a secure home for their metal.

"German private investors want to know their gold is stored outside of the banking system and outside of the Eurozone," says the paper.

Buying Gold as a defense against the "threat of monetary depreciation, they want to know it's held in the greatest possible security."

That's why they're choosing "stronghold gold in Swiss alpine fortresses," the paper says.

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