David Fuller's view -
Deep in the Swiss Alps, next to an old airstrip suitable for landing Gulfstream and Falcon jets, is a vast bunker that holds what may be one of the world’s largest stashes of gold. The entrance, protected by a guard in a bulletproof vest, is a small metal door set into a granite mountain face at the end of a narrow country lane. Behind two farther doors sits a 3.5-ton metal portal that opens only after a code is entered and an iris scan and a facial-recognition screen are performed. A maze of tunnels once used by Swiss armed forces lies within.
The owner of this gold vault wants to remain anonymous for fear of compromising security, and he worries that even disclosing the name of his company might lead thieves his way. He’s quick to dismiss questions about how carefully he vets clients but says many who come to him looking for a safe haven for their assets don’t pass his sniff test. “For every client we take, we turn one or two away,” he says. “We don’t want problems.”
Demand for gold storage has risen since the 2008 financial crisis. Many of the wealthy see owning gold as a hedge against the insecurity of banks and a reasonable investment at a time when markets are volatile and bank accounts and low-risk bonds pay almost no yield. It may also be a way to avoid the increasing scrutiny of tax authorities. In high-profile cases, U.S., French, and German prosecutors have gone after citizens of those countries with undeclared Swiss bank accounts.
I first became really interested in gold and silver in the early 1970s, when I was MD of a little research company called Chart Analysis Limited, founded by Teddy Clarke which I eventually bought out. After years of inactivity, precious metals had developed the best base formations, along with some other commodities. They were also in the early stages of uptrends within our universe of hand-drawn price charts, which included commodities, most UK shares and also leading international shares from the USA to Japan. Perhaps a few veteran subscribers still remember those days.
Commodity Analysis Ltd, also founded by Teddy Clarke, was in the floor above Chart Analysis Ltd so I had plenty of exposure to commodities. In fact, it was one of the reasons why I had moved to London. The 1970s produced one of the great bull markets in commodities, not to be repeated until the first decade of this century.
How about 2016?
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