In a high-security vault in London’s Mayfair, where the glass is thick enough to resist automatic gunfire and four control rooms keep watch around the clock, some of the world’s wealthiest individuals have been rushing to store gold.
The small safes inside, which cost as much as £12,000 annually, are set to be full by the end of the year as clients resort to securing more hard assets, a sign of the troubled times.
Clients have a growing “alertness to the new world order”, says Ashok Sewnarain, chief executive of IBV International Vaults, the Mauritian company that owns the vault. “We have mistrust in the banks, huge inflation and a global divide on reserve currencies.”
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