There is a growing number of central banks and individual investors who are moving gold back home or repatriating it back from foreign banks. Why was this gold stored in foreign lands in the first place? This was done by people who wanted to protect their investment from confiscation and repressive capital and exchange controls in their own countries.
News of gold repatriation came from countries like Venezuela and some emerging economies who need gold to support their fledgling economies. The uncertainty around Brexit, the US / China trade war, the sanctions and subsequent stand off between the U.S and Iran, and other risks have promoted Irish, Canadian, German and some international investors with gold stored in London and elsewhere to repatriate gold bullion and store it wherever they are.
Besides London, gold has been flowing from a lot of traditional storage centres like Hong Kong, Zurich, Perth and Singapore.
Investors believe it is the right time to store gold where they can have easy access to it. They need their investment to be portable and liquid and not be depended on any counter party.
If your gold is held in some vault by a company, you need to know that liquidating it in times of crisis will not be a hassle. It is prudent to test how easy selling will be by taking delivery of some of your gold. In a lot of cases, investors experience hidden charges, terms and conditions they weren’t aware of and other legal impediments buried deep in fine print that make it a hassle to sell gold bullion.
Take your cue from central banks and get your gold out of third party storage. Once you do, you can store it in your own home or sell gold bullion for cash to a reputable gold buyer in your area or online. At the current prices, you are guaranteed to get the best returns for your investment, that is, if you need the money immediately.
If you are going to take possession of your gold bullion you need to make sure that you can provide safe and secure storage in your home. However, there are a couple of risks you need to guard against besides theft like natural disaster. So the safe that you choose to store your valuable gold in has to be hard to crack and fireproof. Don’t take chances and hide the fact that you have gold bullion in your home, the government need you to declare your gold in your tax returns if it is worth more than $10,000. It is important to ensure your gold with an insurance company that provides comprehensive cover to include “hand of god” disasters.
If you have too much gold bullion in your house it makes you a target for thieves. Do not keep hundreds and thousands worth of gold in your home. Keep enough to sell to local gold buyers when you have cash flow problems. If you have gold bars stored in some foreign vault, you might want to think about selling them and buying gold bullion coins instead. These are small and easy to hide.