Hopes of more government spending around the globe through major central banks have caused a surge in demand for precious metals in recent times.
Gold prices have moved higher on Monday to print record highs at $1944.48/oz.
Mr Ash says his customers can though take their metal out from the vault if they wish: "We would arrange delivery, most usually in the form of smaller bars, although that necessarily triggers the extra manufacturing and shipping costs you otherwise avoid by owning wholesale bullion inside secure storage".
Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the United States consulate in Chengdu.More news: Verlander injured in Astros loss to Mariners
The local currency closed at 1,196.10 won against the USA dollar, up 5.40 won from the previous session's close.
The net-long US Dollar exposure persists even though theDXY index continues to track the downward trend from the March high (102.99), and the low interest rate environment along with the ballooning central bank balance sheets may continue to act as a backstop for the price of gold as market participants look for an alternative to fiat-currencies.
The yellow metal rose 1.6 percent to $1,943 per ounce, surpassing a peak touched in September 2011.
A precious metals market has been heavily boosted by a weaker dollar. We expect this rally in bullion will continue and gold and silver will move further upside. "This should benefit breakeven inflation rates, support risk assets, and weigh on the USA dollar".More news: Chinese authorities take possession of closed USA consulate in Chengdu: Foreign Ministry
"Always a sign of trouble, gold continued its red hot streak on Monday, the safe haven commodity looking mighty attractive after another troubling weekend of COVID-19 and US-China headlines", said Spreadex analyst Connor Campbell.
"That means risk assets and gold go up together, which sounds insane but makes sense" and that momentum is likely to change only when central banks begin to consider raising nominal interest rates. "We think these three factors, in combination with limited supply growth as miners continue to restrain capital spending, will drive gold prices higher", Haefele added.
On China's call made to the U.S. of shutting its China-based consulate, Mike Pompeo, the USA secretary of State said Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.
US-China tensions is pushing the gold price up Last week tensions between the world's two biggest economies flared up after China ordered the closure of the US consulate in Chengdu following a similar decision by the US to close the Chinese consulate in Houston. Unrelenting investor demand has helped fuel price gains, with inflows into gold-backed exchange traded funds this year already topping the record set in 2009.More news: Robert O'Brien tests positive for coronavirus