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The new gold rush is all about vaults
By Eddie Van Der Walt and Thomas Seal
Wednesday, June 7, 2017
From safety-deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.
A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation. Two firms say they're planning to open vaults in Europe capable of holding more than 100 million euros ($112 million) in gold, offering customers lower costs than exchange-traded products and protection from rising prices.
"Inflation is a key concern for many of our clients," said Ross Norman, chief executive officer of bullion dealer Sharps Pixley Ltd., which operates a gold vault within walking distance of Buckingham Palace. "A safe-haven asset isn't just about what you buy -- it's also about where you keep it." ...
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