Singapore to introduce gold storage for central banks
MAS plans OTC clearing in local time, gold financial products and other bullion-related initiatives
Singapore will open gold storage services for central banks this year as the country’s monetary authority seeks to strengthen its role as a bullion hub in Asia.
Deputy prime minister and Monetary Authority of Singapore (MAS) chair Gan Kim Yong said in a speech today (June 15) that reserves diversification by long-term holders of gold – such as central banks – had anchored long-term demand for the precious metal. “At the same time, the centre of gravity for gold demand is shifting further towards
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