Kitco introduces Canada's first allocated storage program for gold and silver

Oct 18, 2010, 07:00 ET from Kitco Inc.

MONTREAL, Oct. 18 /PRNewswire/ - Kitco Metals Inc. is introducing the first allocated storage program for retail and wholesale precious metal investors. The move is a response to the increasing awareness of and demand for geographical diversification.

Growing concerns about Sovereign risk among investors the world over have highlighted the need for geographical diversification in addition to asset diversification. As a bullion dealer of international repute with offices in North America and Asia, Kitco fully appreciates the now global dynamics of the precious metals markets and is well-equipped to cater to this need.

Peter Hug, Kitco's Director of Investments says, "In this uncertain time, safety and liquidity are the primary pillars of any prudent investment. Allocated storage offers just such a prudent choice." Kitco's Canadian Allocated Storage program allows investors to hold segregated gold and silver bullion in Canada. As a country whose fiscal house is in order and that enjoys an enviable degree of stability, Canada is fast gaining recognition as a center for asset and geographical diversification.

The Kitco program also features quarterly audits by independent third-party auditors, efficient pricing and detailed monthly statements. As such, the fully insured allocated storage program offers unprecedented safety and immediate liquidity. To complement the program, Kitco has also introduced a tiered pricing structure, offering discounted prices to high-volume investors.

Kitco is now accepting applications from prospective investors. The minimum amount for opening an allocated storage account is U.S. $25,000.

About Kitco Metals Inc.

Founded in 1977, Kitco Metals Inc. is one of the world's premier retailers of precious metals. A mainstay of Kitco's business is the award-winning website font-style="italic" href="http://www.kitco.com">www.kitco.com. Featuring an online precious metals store, live spot prices, market commentaries, news and usable market information, the website attracts nearly a million visitors every day. From its offices in Montreal, New York, Hong Kong and Shanghai, Kitco provides top-quality products and services that are trusted by customers around the world.

SOURCE Kitco Inc.