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Glossary of Financial & Economic Terms |
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Glossary of Financial & Economic Terms |
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Account (Unallocated) gold
An unallocated storage, also known as a metal account, clients purchase an interest in an undivided pool of precious metal held by a bank or storage facility. At purchase, clients only pay for the precious metal. There are no fabrication charges or storage fees, until clients elect to convert their unallocated into a specific coin or bar, which they can do at any time. The client carries higher counterparty risk, however, as he is an unsecured creditor.
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