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Singapore Gold Market Bid
Singapore is seeking to increase its share of the global gold market and become a hub for bullion trading and storage. Its central bank has launched a dedicated service for central banks and sovereign entities, with an initial capacity of 500 tonnes, tax exemptions for some gold services, and a transaction-settlement system scheduled to begin operating in the first quarter of 2027. But Singapore faces a major challenge from London’s dominance: its vaults held around 9,850 tonnes of gold at the end of October. It also faces competition from Hong Kong, as well as the difficulty of building the liquidity and trading volumes needed to rival established centres. Experts say attracting central-bank reserves could support liquidity, but Singapore has yet to prove it can turn its infrastructure and financial reputation into actual inflows and trading activity.
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