Singapore (VNA) – Singapore has announced plans to strengthen its position as a global gold trading hub, amid growing investor interest in storing and trading the precious metal in the city-state.
The plans were outlined by the Monetary Authority of Singapore (MAS) and the Singapore Bullion Market Association on March 27, following consultations with industry players under a working group established in January.
The initiative includes developing gold-related capital market products to support price discovery and liquidity, establishing international standards for storage and logistics, and building a clearing system for over-the-counter (OTC) transactions involving large gold bars and kilobars.
MAS also said it is exploring the possibility of providing vaulting services to foreign central banks and state entities, meaning gold could potentially be stored in its own vaults. The central bank also named three other vault operators: Brink’s Global Services, Loomis International, and Malca-Amit.
According to MAS, the measures are expected to create jobs in vaulting and logistics, trading and relationship management, as well as research and analysis. Details of the implementation will be finalised in the coming months and updated throughout 2026.
Singapore is striving to position itself as a trusted gold trading hub in Asia, alongside regional centres such as Dubai, Shanghai, and Hong Kong./.
