Singapore, March 27 -- Singapore has announced plans to strengthen its position as a global gold trading hub, amid growing investor interest in storing and trading the precious metal in the city-state.
The plans were outlined by the Monetary Authority of Singapore (MAS) and the Singapore Bullion Market Association on March 27, following consultations with industry players under a working group established in January.
The initiative includes developing gold-related capital market products to support price discovery and liquidity, establishing international standards for storage and logistics, and building a clearing system for over-the-counter (OTC) transactions involving large gold bars and kilobars.
MAS also said it is exploring the pos...