The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 17th July 2009 (1134 views)

Banks in Switzerland are beginning to run out of storage space for investors' gold as demand for the yellow metal continues to escalate.

This is according to a 20 Minuten Online news report cited by Mineweb, which suggests that the global economic crisis and fears of hyperinflation have resulted in a run on investments in precious metals.

Because of this, some banks are looking to move other metals investments to alternative sites to accommodate increasing levels of gold bullion.

One banker told 20 Minuten Online that the problem may be partially alleviated by reorganising secure storage space to hold more gold.

"A 12.5kg gold bar only occupies about the same amount of space as a tetrapak of milk," he noted.

Earlier this week, the US Mint temporarily stopped sales of certain types of its gold coins due to high demand leading to shortages of the gold blanks required to produce them.

 

« Back to Gold News stories