Gold News

Gold Bullion Vault Demand "Causing Strains"

THE RUSH to buy and own physical Gold Bullion "is causing all sorts of strains" including a shortage of secure storage space, according to one industry expert.

The comment from Peter Hambro, chairman of London-listed gold miner Petropavlovsk, comes as vault operators worldwide look to increase the volume of available storage.

J.P.Morgan recently opened new Gold Bullion vaults in Singapore, reports the Financial Times. Privately-owned non-bank storage specialiats ViaMat International of Switzerland opened new Silver Bullion facilities in London earlier this year.

Barclays Capital in London is said to be "actively looking at the precious metal vaulting business."

BayernLB's head of precious metals in Germany, Frank Ziegler, tells the Financial Times that "We are discussing increasing the size. We are just at the planning phase."

A Swiss money manager attending last week's FT Silver Investment Conference in London revealed that his company is considering "military bunkers 500 meters under ground" in the Swiss Alps.

His comments came after a report in the SonntagsZeitung newspaper that disused facilities in the Gotthardmassiv mountain range are being rapidly converted to secure gold and Silver Bullion storage sites.

Looking to buy gold bullion and store – at low cost – inside secure, professional market-approved vaults? There's plenty of space at BullionVault, where you can start with a free gram of solid gold held in secure facilities in Zurich, Switzerland now...

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals