Singapore, April 1 -- Singapore is studying options to expand its gold storage capacity to meet rising demand from central banks as part of efforts to position itself as a gold trading hub in Asia and the world.

Singaporean authorities are assessing several potential sites for new storage facilities, including land near Changi Airport.

In response to media queries, the Monetary Authority of Singapore (MAS) said it is also considering the use of existing facilities for gold storage, but has yet to confirm any plans to expand vault capacity.

Earlier, Singapore announced a plan to develop gold-related capital market products and establish a trusted clearing and settlement system for over-the-counter (OTC) transactions. Gold vaults are typ...