As eager investors enter the fray of this modern-day gold rush, an important question arises: Where and how should gold buyers store the precious metal?
It’s absolutely critical for investors to store their physical gold or silver outside the banking system and outside their country of residency. The investor must have personal access to his precious metals which must be stored in a politically stable and democratic country.
There are storage companies in many countries. The most popular locations are in Switzerland, Hong Kong and Singapore. But Switzerland is the safest place to store its gold. Below the reasons for storing gold and silver in Switzerland :
– Hong Kong is not a democracy and if there was ever a problem between China and the USA, China could easily close off Hong Kong. Singapore has an authoritarian political system. In Switzerland you’re not exposed to this kind of risks.
– Although Swiss bank secrecy is virtually dead, Switzerland is probably the only remaining true democracy which also offers a quality of life and non-interference by government that is not found in most other countries.
– Security of goods is a tradition in Switzerland.
– As regards Gold and Switzerland, there has for very long been a tradition for the Swiss to save part of their wages in gold by every month buying gold coin. Also for wedding presents many Swiss receive gold.
– Switzerland refines 70% of all gold in the world which makes it an important industry for the country.
– The Swiss probably feel more strongly about gold than any other Western nation and is therefore unlikely to confiscate gold or tax it punitively.
– Switzerland has a good geographical situation and the country is small. You will not have any problem to travel in Switzerland to check your stock of gold.
> More info about secured storage in Switzerland