The recent strong increase in gold prices has made the amount of precious metals held by collectors more valuable than ever, and at the same time raised urgent concerns about how to preserve gold safely.
World gold prices reached the threshold of 5,084.88 USD/ounce on January 27, an increase of nearly 2,500 USD compared to 1 year ago. Even silver also increased, with silver prices exceeding 100 USD/ounce - 3 times higher than just 6 months ago.
This is a notable increase for a type of asset so compact that it can be pocketed, stored in a drawer, or easily lost.
Of course, gold buyers often have more cautious measures, especially when the collection is increasingly large and valuable.
About 95% of our customers want to keep gold in hand," said Stefan Gleason, CEO of Money Metals Exchange - a major precious metals business in the US.
The first tip that Mr. Gleason noted is that with small amounts of gold, keeping them at home is still acceptable, but it is necessary to choose a discreet approach. Although fireproof safes are often used, he believes that these items may unintentionally attract the attention of thieves.
Conversely, hiding gold too secretly also poses risks if there is no reliable relative who knows the location of storage. According to him, minimum information should be left to the appropriate person to avoid the risk of property being lost in unexpected situations.
The second note that Mr. Gleason emphasized is the increased risk of keeping a large amount of gold in the house. He pointed out that most housing insurance contracts only cover gold at very low levels, often not commensurate with the actual value.
As the collection increases in both scale and value, he recommends switching to professional archives, which provide preservation services with insurance and multi-layered security systems.
According to him, this is a safer option than bank deposit boxes, which are not insured and may limit access.
The third important tip, according to Mr. Gleason, is to keep absolute secrecy regardless of which form of storage is chosen. Revealing information about the amount of gold held or where it is stored can increase risks, especially in the context of strong gold prices and attracting widespread attention. He believes that an important part of asset security is information control.
Don't tell your neighbors or let too many people know what you have. Keeping information secret is also a way to protect your property," Mr. Gleason said.
