Which is the reason? Banks are heavily regulated, and gold held there can be confiscated by the State. Asset freezes and confiscations in a financial panic can and has occurred around the world. Your chances of surviving a voracious government and banking system, created to help the banks and officials, is private storage of your precious metals. Banks that fail can leave your claim to gold held there tied up in court or your gold can be the subject of a “bail in” as it was in Cyprus. Your gold can be considered an unsecured asset that can be used to recapitalize the bank. Private storage is not subject to these banking problems.