Singapore plans to expand gold-storage capacity to act as custodian for bullion held by foreign central banks, positioning itself to compete with Hong Kong as a regional precious-metals hub. The initiative could attract central-bank gold holdings to Singapore, increase custody and storage fee income, and reinforce the city-state's role in bullion logistics and financial infrastructure.
Singapore plans to expand gold-storage capacity to act as custodian for bullion held by foreign central banks, positioning itself to compete with Hong Kong as a regional precious-metals hub. The initiative could attract central-bank gold holdings to Singapore, increase custody and storage fee income, and reinforce the city-state's role in bullion logistics and financial infrastructure.
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