A Golden Tipping Point: University of Texas Takes Delivery Of $1 Billion In Physical Gold

In case it didn't dawn upon readers the significance of the University of Texas endowment fund taking delivery of $1 billion of gold bullion, this is the 3rd blog I'm posting on it, since Zero Hedge has a good angle on the tipping point this represents.  Physical gold is now a legitimate asset to hold for institutional investors.  Expect other pension and endowment funds to follow suit, which is of course, bullish for gold.

Again, the Bloomberg article doesn't address the counterparty risk by having the gold stored in HSBC's vault, but the comments from Zero Hedge readers certainly acknowledge the risks.

http://www.zerohedge.com/article/golden-tipping-point-university-texas-takes-delivery-1-billion-physical-gold