Singapore Makes a $65 Billion Bet on the Future of Gold
For three years, the gold story was about who was buying. In 2026, it has become a story about where the metal sleeps at night. On Tuesday, the Monetary Authority of Singapore opened its national currency vault, with room for 500 tons of bullion, to foreign central banks and sovereign entities, and threw in a tax break for the wholesale gold trade to sweeten the deal. The launch lands three weeks…
In March 2026, Singapore announced plans to establish a $65 billion gold storage facility aimed at attracting foreign central banks and sovereign entities. The Monetary Authority of Singapore (MAS) opened a national currency vault capable of holding 500 tons of bullion, which will also offer tax breaks to the wholesale gold trade.
The initiative follows a surge in private gold holdings in Singapore, which grew 16-fold since 2014 to more than 800 tons. Many Western investors, particularly from the US, Canada, the UK, and Australia, have shown increased interest in storing their gold in Singapore due to concerns about the stability of the US and Swiss financial systems.
The new sovereign vault, run by the MAS, will provide a central bank custodian in Asia, complementing existing facilities like the Bank of England and the New York Fed. Deputy Prime Minister and MAS chairman Gan Kim Yong emphasized that Singapore aims to complement rather than replace existing gold centers in the region. With roughly $65 billion worth of gold, the new facility represents a significant step in Singapore's efforts to become a global gold hub.
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