Singapore touts trust and neutrality to win central bank gold
MAS and SBMA believe there is room for multiple gold hubs; play down competition with Hong Kong
As central banks increase and reallocate their gold holdings, two developments this year showed competition for sovereign gold vaulting in Asia is on the rise, with Hong Kong and Singapore laying out their respective gold market development plans within six months of one another. Both jurisdictions referenced changing geopolitical and economic circumstances globally when announcing their plans, while highlighting Asia’s increasing importance to the world economy.
The Monetary Authority of
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