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David Franklin: Vaults are booming -- in Asia
2:21p CT Wednesday, November 13, 2013
Dear Friend of GATA and Gold:
Sprott Asset Management's David Franklin notes today that the great boom in vault construction in Asia suggests that that part of the world is planning a bright future for gold.
"Vault space was limited around the world last year as most bullion-dealing banks doubled their vaulting fees," Franklin writes. "These new facilities in Asia further reflect the enormous increase in the physical precious metals trade and a requirement for secure storage. With these new vaults located in Asia (or now owned by Asians) it would appear the massive amounts of gold being shipped East will not see the inside of a London or Swiss vault ever again."
Frankin's commentary is headlined "Vaults Are Booming -- In Asia" and it's posted at the Sprott Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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