LONDON, 21 June 2010 — Today's Daily Telegraph reports on a £12.5 million investment in BullionVault, the online gold ownership service, by the mining-backed World Gold Council and Lord Rothschild-backed Augmentum Capital.
BullionVault is the world's leading online service for physical gold ownership. More than 18,500 people from 97 countries now use BullionVault to buy, own and trade gold bullion, benefiting from direct access to live "wholesale" pricing and cost efficiencies.
"Investment demand for the metal has risen on concerns that sovereign debt problems could spread and the value of currencies plunge," says The Telegraph.
The World Gold Council's new investment in BullionVault is part of its strategy of "increasing its portfolio of successful platforms for gold investment," says Marcus Grubb, managing director of investment at the WGC.
For Augmentum, however — a private-equity fund focused on technology investments, which is backed by Jacob Rothschild's FTSE-listed RIT trust — the investment is not a bet on the gold price, but on "the future growth of the BullionVault platform," says managing director Tim Levene.
You can read the full story at Telegraph.co.uk here.
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