Gold Depositories

| Total Words: 467

The simplistic definition of a depository is that it is a place where anything can be left for safekeeping.

The safekeeping of gold, because of its worldwide status as the traditional store of value, is of paramount importance internationally.

Again to put it simply, the wealth, importance and influence of a nation can be measured by the amount of gold it owns.

Gold is stored in secure vaults located in various centers throughout the world with the US holding, in its three largest storage facilities, more than any other country.

It is important to be aware that much of the gold held in the US vaults is the property of other countries but is left in the US for security reasons.

The worlds best known gold depository is Fort Knox in Kentucky and is known as The United States Bullion Depository. Situated very nearly below the World Trade Center in New York is the US Federal Reserve Banks vault rumored to be the size of two football pitches.

At the time of the 9/11 attack it was at first feared that the Fed vault was the target.

One of the rules and regulations of the International Monetary Fund (IMF) states: Gold Depositories...

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