Why Precious Metals Investors Should Follow Discussions on the SILVER Act
In March, legislation was tabled in the U.S. House of Representatives seeking to modify the law under which vaults are approved to store precious metals like gold, silver and platinum. A companion bill was later tabled in the Senate this month. The SILVER Act, as the legislation is called, would significantly change the existing system through which these exchange-traded precious metals are stored in the U.S. Current law only approves vaults located within the greater New York City area. Regardless of where a commodity is mined or processed, it ends up in this one location for storage and trade. The…
