Allocated Gold Accounts

Allocated gold accounts are a far safer option.  Many banks offer allocated gold accounts, to those who can afford to invest millions.

Allocated gold is gold deposited under a safekeeping or custody arrangement. Allocated gold accounts allow an investor to buy gold bars from the bank's bullion brokerage and to be stored in a safety deposit box. Allocated accounts involve ownership of specific gold and the owner has title to the individual bars. It is held as numbered bars, and it is the property of the individual owner. It is neither the property of the bank nor the liability of the bank. As such it is safe from bank insolvency.

Investors have to pay for the storage of allocated gold - 0.2% per annum for volume buyers. Insurance is included in the storage charge.

Due diligence should be carried out on allocated gold account providers - the history, security, credit rating of the provider are of utmost importance.

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