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Singapore expands beyond storage
Singapore is preparing to establish an over-the-counter gold clearing system by the end of 2026, with the aim of making gold stored within its borders more tradeable, settle more efficiently, and ensure proper custody within a clear institutional framework. The plan includes offering gold custody services for central banks and sovereign entities, involving six international and local financial institutions, to strengthen Singapore’s position as an Asian financial hub for gold trading. This move comes amid increased demand for gold as a safe-haven asset, amidst a decline in gold bullion investments, and aims to attract major investors and transform Singapore into a comprehensive platform for gold and long-term investment.
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