Gold Depository Opening Faces Delays

The first state-administered gold depository facility will open, at least, at some point. Less than a year after Texas Bullion Depository selected Leander, TX for the depository’s 60,000-square-foot site, developer and depository operator Lone Star Tangible Assets requested a delay. Specifically, LSTA is asking the start of operations to be pushed from Aug. 31, 2019 to no later than Feb. 29, 2020.

The operations start date is being pushed back because LSTA had delays in writing up its contract with the state, according to Leander Economic Development Director Mark Willis.

The Texas Bullion Depository opened in a temporary Austin site in June 2018. The depository targets investors who need a place to store gold and precious metals.

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