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Texas gold investors just got their own Fort Knox

Fort KnoxReuters/Reuters Photographer

The Texas Bullion Depository, which stores gold in various forms, opened last week.
The depository is the first of its kind and might encourage other states to look into following suit.
It has the potential to attract even more investors to precious metals.

If you live in Texas and have any extra gold bars, coins and/or jewelry lying around that need safekeeping, you’re in luck. The Texas Bullion Depository, the first of its kind in the U.S., officially opened to the public in Austin last week, putting a cap on three years of planning and construction. The private firm managing the facility, Lone Star Tangible Assets, calls it the “world’s most advanced depository.”

This is wonderful news. Because Texas is such a trend-setting state, it might encourage other states to look into creating their own depositories. It also has the potential to attract even more investors to precious metals, which I believe are crucial components of any well diversified portfolio. As I’ve shown before, gold has little to no correlation with other assets such as equities, cash and Treasuries.See the rest of the story at Business Insider

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