www.antena3.ro/economic/singapore-intra-in-cursa-a

Singapore's Monetary Authority announced a gold storage service for foreign central banks and tax reductions for gold market companies to enhance its competitive edge. Vice Premier Gan Kim Yong emphasized this initiative strengthens Singapore's financial hub status. The new service will allow central banks to store gold reserves at MAS facilities, which can hold up to 500 tons. There is increasing demand for gold as a reserve asset, prompting central banks to seek more options. Additionally, Singapore plans to launch an OTC gold transaction settlement system by the end of the year, with trading expected to start in March 2027. Meanwhile, Hong Kong is also working to boost its gold storage capabilities.