We’re in the midst of a modern-day gold rush. A survey of 1,000 people by Magnify Money found that one out of six have invested in gold or other precious metals since May, and about half of Americans are seriously thinking about buying gold. Whether these people are stocking up on gold because they’re worried about a pending apocalypse or simply convinced that it’s a fabulous investment, they do have one major issue: storage. “Gold and silver bullion storage options have simply grown more in location diversity, pricing — with even some offering short-term collateral loan options,” said James Anderson, a research executive at SD Bullion in Toledo, Ohio. “When I began in this industry pre-2008 financial crisis, there were perhaps 10 to 20 domestic bullion storage depositories.

Source: New York Times July 28, 2020 17:15 UTC