Singapore Launches Gold Vaulting Service For Central Banks

Published 11h ago · Latest report 8h ago · Policy change

Affects Singapore · Covered in 2 countries

AI summary45s readPositive

Singapore launched a secure gold vaulting facility for central banks to boost its status as a bullion hub.

Singapore has introduced a secure gold storage facility capable of holding 500 tonnes of bullion for foreign central banks and international financial institutions. The Monetary Authority of Singapore launched the initiative to strengthen the nation's standing as a leading precious metals trading hub. Authorities also announced an extension of goods and services tax waivers for specific gold-related services.

The capacityThe new storage facility is designed to accommodate 500 tonnes of gold reserves.
The eligibilityForeign central banks, international financial institutions, and sovereign entities can access the vaulting service.
The tax changeGoods and services tax waivers have been extended to cover certain gold storage and related services.

Why it matters

Singapore has steadily built its reputation as a major global precious metals trading hub, drawing institutional investors and central banks seeking secure storage options in Asia. Expanding vault capacity and refining tax policies help the city-state compete with traditional Western bullion centers.

By the numbers1

500vault capacity in tonnes

How outlets cover it

What outlets agree on

The Monetary Authority of Singapore launched a gold storage facility for foreign central banks and institutional entities, accompanied by tax waivers on certain gold services.

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