Perth Gold and Australia Fires

[Kevin K.]

I feel a bit guilty even posing this question considering the horrific circumstances Australians are dealing with at the moment, but it did occur to me to wonder if there was now a downside to holding gold at Perth Mint (e.g. in AAAU) given that the country is basically on fire? Obviously the vaults are well-protected but I don't know if geographical diversification in gold holdings should included Australia anymore given both the current situation and very credible forecasts that these kind of wildfire seasons are likely the new normal down there.

Any thoughts?

[StJohnVianney]

More info here: http://www.perthmintbullion.com/us/blog ... _gold.aspx

[ochotona]

It was my understanding that the fires were on the east side of the island (New South Wales and Victoria) and Perth is on the west coast. So I would imagine that's the same problem as California wildfires affecting the gold in Fort Knox, KY, i.e., none.

I flew from Perth to Sydney. It took hours.

[Smith1776]

I personally still haven't put into practice the geographic diversification aspect of gold holdings.

All of my physical gold is still being held locally. Unless the redemption features of my ETFs count? Probably not hehe.

[Mark Leavy]

The fires are on the East Coast. Perth is on the West Coast. You can't imagine how large Australia is. You have to see it to believe it.

[Hal]

Hi Kevin,

Don't worry about it. As Mark Leavy mentioned, there is a lot of "nothingness" between the East Coast and Perth.

https://www.google.com/search?q=nullarb ... 00&bih=537

I live on the East Coast of Australia, and have Gold stored at the Perth Mint - not the slightest bit concerned.

Hope this helps,
Hal

[Kevin K.]

Thanks Hal, thanks everyone!

Really sorry to see that beautiful country going through such hell.

[sophie]

found an interesting article on Australia and fire https://www.americanthinker.com/article ... _fire.html it reminds me of California

There are fires near Perth, but it's like the California fires: they're not in the city itself but in the bushland surrounding it. Check out the images online of the "fire tornado'.

Not good for Australia, but I doubt very much that the mint is in any danger.

[StJohnVianney]

Australia fire map here: https://myfirewatch.landgate.wa.gov.au/