Singapore Opens National Vault to Foreign Central Banks, Bets $65B on Gold

The Monetary Authority of Singapore opened its national currency vault to foreign central banks and sovereign entities, offering storage for up to 500 tons of bullion and a tax break for wholesale gold trade. This move, following reports of wealthy investors shipping bars to the city-state, positions Singapore as a premier gold storage hub amid shifting global demand. The development signals a structural change in gold custody and trade flows, potentially affecting market liquidity and pricing.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works