Storage is the safekeeping of precious metals in a vault. The metals are stored in a custody account rather than in a deposit account. This is an important distinction that is made to the underlying nature of the storage arrangement by accounting as well as in law. Therefore, ownership, title, and effective possession of the metal are retained by the user and not given to the storage institution, which performs a safekeeping service only.
How can we help you?
Was this article helpful?4 out of 8 found this helpful
Have more questions? Submit a request