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2026-03-03 11:21:38
[Singapore Plans to Join Forces with Several Banks to Build a Regional Gold Hub] (1) According to sources, Singapore is ramping up its efforts to build a regional gold hub, having partnered with several local and international banks, including JPMorgan Chase and UBS, to enhance market liquidity and meet the needs of high-net-worth investors. (2) Recently, the Monetary Authority of Singapore (MAS) held talks with several banks to assess the potential of making Singapore a physical gold trading center. DBS Bank, UOB and OCBC have confirmed that they are working with the MAS to support the development of Singapore's gold market. (3) Sources say that the ambition to build a trading and storage hub is primarily aimed at institutional participants, such as central banks and family offices. Meanwhile, the Singapore Exchange is also reassessing market demand for new gold contracts, after suspending its kilogram gold contracts in 2018 due to thin trading.
