Vault building booms as gold lures investors in turbulent world

London

FROM safety-deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.

A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation.

Two firms say they're planning to open vaults in Europe capable of holding more than 100 million euros (S$155 million) in gold, offering customers lower costs than exchange-traded products (ETFs) and protection from rising prices.

"Inflation is a key concern for many of our clients," said Ross Norman, chief executive officer of bullion dealer Sharps Pixley Ltd, which operates a gold vault with…