LONDON, 25 June 2010 - World-leading online gold ownership service BullionVault today features on the front-page of the Wall Street Journal's business section, in a detailed report on the growth of both gold investment demand and supply.
Alongside a rash of new services launched this week, the WSJ notes trade group the World Gold Council's "more than $9 million" investment in BullionVault - "a five-year-old, London-based firm that stores about $800 million of gold on behalf of clients.
"The council already runs the largest gold exchange-traded fund, SPDR Gold Shares, which is backed by bullion but doesn't let average investors take physical possession of their share."
Summarizing the advantages of such allocated gold ownership as BullionVault provides to investors, "In concept, it is similar to having money in a safety-deposit box at a bank, rather than a checking account," says the Journal - New York's financial paper of record.
"There's much more demand from Gold Investors for allocated gold," the WSJ quotes Jonathan Spall, product manager for precious metals at Barclays bank.
"People are attracted to hard assets outside the banking system which do not represent a credit risk to anyone."
You can read the Wall Street Journal's full story here.
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