Business & Finance
Singapore Launches Gold Vaulting Service for Central Banks
Key Points
Singapore Launches Gold Vaulting Service for Central Banks Singapore has launched a gold vaulting service for overseas central banks and official institutions, seeking to capitalize on global demand to diversify storage of bullion reserves. Gold will be stored in the city-state’s national currency vault, which has capacity for as much as 500 tons, with room to expand as demand grows, the Monetary Authority of Singapore said in a statement on Tuesday.
Singapore Launches Gold Vaulting Service for Central Banks
Singapore has launched a gold vaulting service for overseas central banks and official institutions, seeking to capitalize on global demand to diversify storage of bullion reserves.
Gold will be stored in the city-state’s national currency vault, which has capacity for as much as 500 tons, with room to expand as demand grows, the Monetary Authority of Singapore said in a statement on Tuesday.