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Glossary of Financial & Economic Terms |
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Glossary of Financial & Economic Terms |
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Account (Allocated) gold
An allocated account is a term used whereby a client who holds his precious metals in a storage facility is identified as having a parcel of physical metal with his name and account number attached. There is usually a charge contributed to an allocated account based on the rental of space occupied within the vault as well as administrative and insurance costs. The client becomes a secured creditor of the holding bank.
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