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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2013)	8/7/2013 8:23:37 AM
From: Goose94	Read Replies (1) \| Respond to of 202704

ANZ to build massive gold warehouse http://www.fool.com.au/2013/08/01/anz-to-build-massive-gold-warehouse/ ANZ’s (ANZ-A) Asian strategy has reached another milestone, as the company announced its intention to take advantage of the demand for gold throughout Asia. Australia and China are the two biggest gold producers in the world and ANZ is conveniently locating a new gold storage facility in Singapore to cater to rising demand from Asian investors who need a safe place to store their bullion. According to The Australian,ANZ will utilise its credit rating to attract investors to its new state of the art facility. ANZ’s Swiss-designed 50 tonne vault is a “bulletproof-type facility” according ANZ’s co-head of fixed income, currencies and commodities, Eddie Listorti. “Singapore really does want to be a serious financial hub and gold is, including paper, an $US 88 billion-a-day market”. Mr Listorti said. ANZ handles around 15% of gold in the global market and sells to central banks, wealth funds and other banks. As the demand for gold as an investment has grown, it has outstripped the demand coming from jewellers. Despite a price crash in recent months, the European crisis and US QE tapering has some investors spooked and, as a result, has increased the demand for investors seeking to diversify their wealth.