Gold acquires new investment aura (GC in Telegraph)

30 November 2009  The Telegraph

Although the British-based bank has decided to stop retail investors depositing the shiny stuff at its New York vaults in favour of storing gold for higher paying institutional customers, it has not stopped the rest of the world from clamouring to join the gold rush.

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According to Bob Higgins, chief executive of First State Depository, a precious metals vault in Wilmington, Delaware, the number of first-time buyers wanting to store gold at his facility so far this year has been "off the charts".

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Although a number of his customers are individuals – he is hoping to benefit from HSBC's New York vault closure decision - Higgins is also developing a growing business with the corporate middle-men who help private investors buy and store their gold. Ireland's GoldCore – a wealth manager which specialises in precious metal investing – notes on its websites that some of its clients have begun to use Higgins' US facility, for example.

http://www.telegraph.co.uk/finance/businesslatestnews/6685093/Gold-acquires-new-investment-aura.html