Citigroup picks London gold vault for precious metals push - Mining.com

When major banks start securing vault space, they're not playing around. Citigroup's London move signals institutional recognition that paper gold won't cut it when the music stops. The London vaults are already straining under central bank demand and ETF flows. Adding Citi's client base to the physical squeeze changes the game. This isn't about trading profits - it's about delivery capacity. The paper-to-physical ratio keeps climbing while vault space gets scarce. Banks don't lease expensive vault space for fun. They see what's coming. Physical premiums will reflect this reality soon enough.