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Canada’s First Allocated Storage Program for Gold and Silver
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Thread: Canada’s First Allocated Storage Program for Gold and Silver

  1. #1
    Join Date
    Nov 2009
    Location
    Edmonton AB
    Posts
    37

    Default Canada’s First Allocated Storage Program for Gold and Silver

    Tel: (514) 875-4820 • Toll Free: 1-877-775-4826 • Fax: (514) 875-6484
    www.kitco.com
    Attention Business Editors:
    Kitco Introduces Canada’s First Allocated Storage Program for Gold and Silver
    Montreal, October 15, 2010 -- Kitco Metals Inc. is introducing the first allocated storage program from retail and wholesale precious metal investors. The move is a response to the increasing awareness of and demand for geographical diversification.
    Growing concerns about Sovereign risk among investors the world over have highlighted the need for geographical diversification in addition to asset diversification. Geographical diversification entails judiciously distributing one’s holdings across different physical locations. As a bullion dealer of international repute with offices in North America and Asia, Kitco fully appreciates the now global dynamics of the precious metals markets and is well-equipped to cater to this need.
    Peter Hug, Kitco’s Director of Investments says, “In this uncertain time, safety and liquidity are the primary pillars of any prudent investment. Allocated storage offers just such a prudent choice.” Kitco’s Canadian Allocated Storage program allows investors to hold segregated gold and silver bullion in Canada. As a country whose fiscal house is in order and that enjoys an enviable degree of stability, Canada is fast gaining recognition as a center for asset and geographical diversification.
    The Kitco program also features quarterly audits by independent third-party auditors, efficient pricing and detailed monthly statements. As such, the fully insured allocated storage program offers unprecedented safety and immediate liquidity. To complement the program, Kitco has also introduced a tiered pricing structure, offering discounted prices to high-volume investors.
    Kitco is now accepting application from prospective investors. The minimum amount for opening an allocated storage account is U.S. $25,000.
    For further details about the allocated storage program, call Kitco on 1-866-971-2677 (toll-free) or 1-514-223-4837 (direct).

  2. #2
    Join Date
    Apr 2009
    Posts
    5,003

    Default

    Ah, Kitco, eh?

    No thanks.
    I'll allocate my storage on my own property.




    Beware the tripwires....
    Caedite eos.

  3. #3
    Join Date
    Nov 2009
    Location
    Edmonton AB
    Posts
    37

    Default

    not really looking for myself for a place to keep my metals, but............has Kitco seen a 'nitche' in the bussiness market due to more people looking at claiming their physical metal vrs an etf?

  4. #4
    Join Date
    Apr 2009
    Posts
    5,003

    Default

    The main concern -- "immediate liquidity".

    Really?
    How immediate?

    You have to call/email/contact them, during "business hours", I presume.
    What if no one answers???

    Then they have to get your money to you...oh sorry, they have to send YOUR money to a BANK.
    What if the bank doesn't open???

    Just waaaay too much PAPER work involved for something that is designed to circumvent paper!

    Plus all the fees...LOTS of fees!

    No thanks, not for me.
    But I'm sure they will suck some people in.
    Caedite eos.

  5. #5
    Join Date
    Apr 2008
    Location
    Ontario, Canada
    Posts
    124

    Default

    ^^ Exactly, may as well just buy CEF.
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    is hazardous to your wealth.

    "Paper money eventually returns to its intrinsic value - zero.” - Voltaire, 1778 philosopher

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