Singapore is reportedly considering evaluating the feasibility of developing itself into a physical gold trading hub.

PANews March 3 News, according to Zhitong Caijing, the Monetary Authority of Singapore has held talks with several financial institutions, including major gold market makers UBS and JPMorgan, to assess the feasibility of developing Singapore as a physical gold trading hub. Sources familiar with the matter revealed that Singapore aims to become a gold trading and storage center, with support from the central bank and family offices. The Singapore Exchange is also evaluating market demand for new gold contracts. The related plans are still in the preliminary stage, and adjustments may be made in the future.

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