Billionaires Are Flocking to Physical Gold: Huge Safes Are No Longer Enough - Dünya Newspaper
4 Articles
4 Articles
The world's leading private gold vaults are facing capacity problems. As billionaires abandon their funds and turn to physical gold, Swiss Gold Safe in Switzerland is preparing to expand all its branches.
As gold prices approach new record highs, the demand for physical gold from billionaires has accelerated. Wealthy investors, turning directly to gold bullion instead of funds and financial products, are straining the storage capacity of private safe deposit box companies, and in Türkiye, the demand for physical gold has reached its highest levels in recent years.
The shift of wealthy investors towards physical gold bars has brought capacity shortages to the forefront for private safe deposit box companies. While the increase in global demand has also been reflected in Turkey, the demand for gold bars and coins in the country rose by 29 percent in the first quarter of the year.
As gold prices head towards a new record high following a correction in the first half of the year, the demand for gold bullion among billionaires has increased dramatically. Wealthy investors are now turning directly to physical gold instead of funds, leading private vaults around the world are facing capacity problems. While some companies are taking steps to build new storage facilities, a similar trend is strengthening in Türkiye.
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