Bullion Vaults Run Out of Space on Gold Rally

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"Gold bought for investment accounted for 38% of total demand in 2010."

Bloomberg, Chanyaporn Chanjaroen, Nicholas Larkin and Debarati Roy

Gold rose 27% to $1,803 this year as the MSCI All-Country World Index of equities retreated 11%, led by financial stocks.

Storage companies are responding. The 112-year-old Perth Mint, which refines more than 8% of all supply and is owned by the Western Australian state government, may add a new vault within the next year, according to Treasurer Nigel Moffatt. The mint sells everything from gold coins to 400-ounce (12.4-kg.) bars.

Gold bought for investment accounted for 38% of total demand in 2010, compared with about 4% a decade before, the World Gold Council estimates. . .View Full Article

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