Many investors would "rather own a gold brick than an ETF" - Wealth Management

New Deutsche Bank warehouse in Singapore shows preference for physical bullion, especially in Asia

"If you look at the existing primary locations of London, Zurich and New York, these are clearly Western-centric," Mark Smallwood, head of APAC wealth planning at Deutsche Asset &Wealth Management, said Wednesday of the bank's new gold storage warehouse in Singapore. "The launch is really part of the story of Singapore, and about a story of evolving storage facilities for gold bullion" ...

"Asian investors are very gold-centric and the reason for it as we have seen had to be put in the context of where the gold price has gone in the last 10 or 12 years," Smallwood said, adding that the price of gold moved from around $250 an ounce in 2002 to peak at the $1,900 mark and is now down to the $1,377 level.

The recent rout in gold prices has resulted in a shift in the way people want to own gold in the market, said Tom Price, global commodity analyst at UBS.

"The opening of a warehouse for gold shows a shift in the market in the last few months, where people have some concerns over ETFs and they'd rather own a gold brick than an ETF," Price said.

More information can be found online at http://www.goldbullionadvisors.com