Gold Investors Seek Alpine Haven in Swiss Army Bunkers

As the euro-area went through a record-long recession, and only edged back to growth last quarter, demand for storing gold bars and coins in Swiss vaults has been rising. Even as the price of the metal has declined more than 20 percent this year, some investors see gold as less risky than other assets such as bonds, where debtors may not be able to pay, or equity in a company that may go out of business.

U.S. Customers

Buchwalder will ask U.S. clients to leave from the beginning of next year, echoing a similar decision announced by transport company Via Mat in February. Gold traders have the same know-your-customer requirements as banks, and the burden of compliance means it’s not worth keeping U.S. customers.

Read More: www.bloomberg.com/news/2013-08-14/gold-investors-seek-alpine-safe-haven-in-swiss-army-bunkers.html