Storage Vaults News
4 reasons why Australia is an ideal location for buying gold
Whether you’re a first-time investor or a seasoned buyer of precious metals, there are a number of important factors to consider when deciding where to purchase gold bullion.
Your chosen location should be stable, have an active trading market and be ideally placed to take advantage of production and distribution channels.
Here are four reasons why Australia is an excellent place to make your next investment in gold.
1. High gold production
Australia is the world’s second largest producer of gold, having climbed from fourth place in 2008. Only China can claim to mine more of the precious metal each year.
Around 75 per cent of the country’s gold is produced in Western Australia, while the nation itself is responsible for around 10 per cent of the entire global supply.
2. Gateway to Asia
China and India are huge consumers of gold, and Australia’s close proximity to Asia means the country’s reserves of the yellow metal are increasingly sought-after.
In fact, the World Gold Council has estimated demand in China will rise 20 per cent from current levels by 2017 – a trend savvy investors could take advantage of.
3. The Perth Mint
The Perth Mint in Western Australia is the biggest precious metal refinery in the Southern Hemisphere, managing approximately $3.5 billion worth of gold bullion in its depository.
The mint processes the country’s entire gold mining output, which is the equivalent of 300 tonnes a year, at a total value of around $15 billion.
4. Secure bullion storage
Australia is home to state-of-the-art private storage services that provide sophisticated security and insurance options for investors.
As such, you can rest assured your precious metals are in safe hands, while still having maximum flexibility when buying, selling and receiving delivery of your gold.
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