Friday 25 May 2018

Rich are changing money into gold

Safety deposit boxes will be available in a private high-security vault in Dublin in September
Safety deposit boxes will be available in a private high-security vault in Dublin in September

WEALTHY Irish people are increasingly turning their money into gold amid a lack of trust in the banks, the owners of a new private high-security vault have claimed.

Sentinel Vaults is due to open in September on Dublin's Waterloo Road, providing safety deposit boxes for householders and businesspeople.

The company said evidence suggested more people were converting cash to gold.

A spokeswoman said: "Gold has always been seen as a safe hedge against inflation."

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