Allocated gold is gold deposited under a safekeeping or custody arrangement. It is held as numbered bars, on labeled shelves, and it is the property of the individual owner.
Investors have to pay for the storage of allocated gold. Arranging for the physical security of bullion bars requires strong vaults, wise use of technology, carefully constructed systems for security, and the monitoring and control of human factors. There is no point in arranging for all of this and then not charging for it, and all institutions which offer allocated storage must charge. In fact the charge is an important part of establishing the custodial nature of the relationship. The courts accept that payment of a fee to the custodian is powerful evidence that the relationship is a custodial one, and not a deposit into an account.
Public Safe charged 0.5% of admin fee per annual or minimum RM20.00 per annual of the total purchase. Furthermore, Public Safe will issue an agreement for you to sign, so that both parties are tied to the law.
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