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SPIEGEL ONLINE - Germany
Deep beneath London’s streets lies a treasure greater than anything that even the Bank of England possesses: Thousands of gold ingots, each weighing in at more than 12 kilograms (26 pounds). The ingots, neatly arranged on wooden pallets and stacked high to the ceiling, glow softly in the dim neon light of the vault. And every week a forklift adds new stacks of ingots to the existing inventory.
Financial services provider StreetTracks Gold Shares uses the heavily secured and guarded vaults to store unimaginable quantities of the precious metal for its customers. The vaults already contain more than 641 tons of gold, with a market value, at today’s prices, of more than $18 billion (€12 billion). Read Full Story
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