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How to Select a Gold Bullion Storage Service?

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As gold is a safe haven asset, investing in it is a good way to protect your wealth in the event of market volatility and inflation. But storing gold bullion can present itself with certain challenges as you need to choose a secure storage with adequate access when you require it. There are storage facilities that allow you to store your bullion for a subscription depending on how long you are storing it.

When evaluating a gold bullion storage service such as Guardian Gold you need to consider the security that they can offer. You need to ask the facility about the high level security features they can provide you with so that you can rest easy without worrying about your investment being lost. Some of the secure features they should have are burglar alarms, round the clock surveillance and high security vaults.

Check whether the storage facility carries accreditation from well reputed organisations as this will give more credibility to the facility as well. Think about the location of the storage facility. Accessibility is one factor when choosing a facility as you will be able to have easy access if it is closer to your home or office. This is only if you want to access your gold frequently. But otherwise, make sure that the storage facility is in a secure jurisdiction area.

The fees

You will have to pay for storage facilities will differ from one another and also the amount of gold you are storing. The duration of the storage will have an impact on the cost as well. It is best to choose a service that has a reasonable fee structure with transparency so you know what you are paying for. But make sure you read the conditions before agreeing as there can be hidden fees.

You should prioritise the security of the facility over the cost of storage as you are essentially protecting your investment. Check with the storage facility if they have sufficient insurance coverage for loss of items, damage or theft. You can also check if additional insurance options are available at an extra fee just to give you a little bit more protection. These costs will also add to the overall cost of storage.

It is important to select a reputed storage facility that has been in operation for a long time

You can carry out some research on the facility to how long they have been in the industry and their company history. Online reviews are a great way for getting an idea about the services offered by the company. Also, you can ask other investors for recommendations. In addition to the quality of the facilities, you also need to consider the experience and expertise of the staff working there. Check how easy it is to deposit and withdraw gold bullion from the facility and whether this has to be done in person or through an online platform. The storage facility should have a good customer service to ensure you get sufficient access to your investment.

Keira Gilmore
the authorKeira Gilmore