Barclays to open new gold vault

Barclays is set to open the first British bank-owned gold vault in over five years on the back of heightened gold ownership. The firm’s new vault anticipates demand from pension funds, central banks and sovereign wealth funds who have been scooping up the precious metal that has doubled in value since late 2008. The vault, at a secret location, is set to open somewhere inside London's M25 motorway.