GoldMoney Holdings pass US$1 billion mark

GoldMoney holdings pass US$1 billion mark

1 June 2010 - GoldMoney, one of the world’s largest providers and holders of physical bullion for retail investors, now stores more than US$1 billion of assets on behalf of its customers. The company has achieved a growth of 112% over less than 18 months based on US $476 million of customer assets at the beginning of 2009, thanks to particularly strong demand for physical gold.

Geoff Turk, CEO of GoldMoney, said: “Investors are now more than ever looking for a safe haven for their money. As gold has, on average, registered a yearly appreciation of approximately 17% over the past nine years, many investors have chosen to safeguard their portfolio by owning a tangible asset and simultaneously benefit from the price appreciation of precious metals.

“The market is being driven by the growing fear in the financial community that just like Greece, other nations might end up revealing huge budget deficits. GoldMoney therefore expects that the uptrend in gold has further to go. We expect to see customer assets grow as the price continues to rise. More and more people will turn to GoldMoney to protect their wealth.”

GoldMoney is the leading provider for the online sale and storage of physical gold, silver and platinum to retail buyers.

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Contact:

Pelham (PR advisers to GoldMoney)
Damian Beeley dbeeley@pelhambellpottinger.co.uk +44 (0) 20 7861 3139
Charles Goodwin cgoodwin@pelhambellpottinger.co.uk +44 (0) 20 7861 3117