StoneX and US Gold Opportunity Fund, LP make an impact in economically challenged communities known as Opportunity Zones
BRISTOL, PA, May 24, 2021 — US Gold Opportunity Fund, LP (“US Gold”) announces a unique investment opportunity designed to drive economic activities in economically challenged communities known as Opportunity Zones.
US Gold jump starts its Opportunity Zone-based business focused on buying, selling, and storing gold on behalf of its owners with a $30 million purchase of gold bars that were delivered by StoneX Financial Ltd (a wholly owned subsidiary of StoneX Group Inc.) to US Gold Opportunity Fund, LP at a CME certified good delivery vault, located in an Opportunity Zone.
“Working with the team at US Gold Opportunity Fund, LP in an attempt to make a positive impact in Opportunity Zone communities, is an important part of our broader social responsibility initiatives at StoneX,” stated Greg Frith, Precious Metals Sales & Trading (North America & EMEA), StoneX Financial Ltd.
US Gold Opportunity Fund, LP partnered with StoneX Financial Ltd to move physical gold bullion from Europe to a vault located in a US Opportunity Zone. With the shipment of these gold bars from Europe into a US Opportunity Zone, the logistics and general services associated with the secure storage of this gold moved into an Opportunity Zone also.
“We were eager to work with a top-tier service provider, like StoneX Financial Ltd, to provide our owners and customers with an extremely high level of confidence that the gold we are purchasing is of the highest purity and will have been refined at a top tier refinery operating under the London Bullion Market Association’s Responsible Gold Sourcing Guidelines,” says Bob Enck, CEO of US Gold.
“It was eye-opening to our team to learn that massive gold ETFs primarily store gold in Europe. US investors in these large ETFs may be unknowingly exporting jobs and economic impact overseas. With that in mind, we were delighted to work with StoneX Financial Ltd to move gold bars from Europe to a US vault located in an Opportunity Zone,” stated Scott Victor, COO of US Gold. “Moving $30 million of gold from Europe to an Opportunity Zone was meaningful for our team as it makes a positive impact on our community.”
About US Gold Opportunity Fund, LP
US Gold Opportunity Fund, LP is a Qualified Opportunity Fund that is in the business of actively engaging in the purchase and sale, storage, transport, assay, and other activities related to managing physical gold bullion.
US Gold Opportunity Fund, LP will operate and maintain an office in an Opportunity Zone, while endeavoring to embrace the spirit of the enacted Opportunity Zone legislation by securing business partners that serve US Gold via Opportunity Zones. Fund Administration, Legal, Audit and Gold Storage partners are all supporting US Gold via Opportunity Zone locations.
US Gold Opportunity Fund, LP is a limited partnership formed under the Delaware Revised Uniform Limited Partnership Act. US Gold Opportunity Fund, LP was founded on June 11, 2020.
For more information, please see our website: https://www.goldozfund.com/
About StoneX Group Inc.
StoneX Group Inc. (formerly INTL FCStone Inc.), through its subsidiaries, connects clients with the global markets across all asset classes – providing execution, post-trade settlement, clearing and custody services through one trusted partner. Clients use its global financial services network to pursue trading opportunities, make investments, manage their market risk, and improve their performance. A publicly
traded company (NASDAQ:SNEX) headquartered in New York City, StoneX Group Inc. and its 3,000 employees serve more than 35,000 commercial and institutional clients, and 340,000 active retail accounts, from approximately 70 offices spread across six continents.
To learn more about StoneX, please visit: https://www.stonex.com/