Singapore is set to enhance its position as a pivotal node in the global gold market, as announced by Deputy Prime Minister Gan Kim Yong at the 9th Asia-Pacific Precious Metals Conference on 15 June 2026. The city-state aims to bridge the gap in the Asian time zone by providing a trusted platform for gold trading, clearing, and storage.
The Monetary Authority of Singapore (MAS) is spearheading several initiatives to bolster Singapore’s gold market infrastructure. These include the establishment of an over-the-counter gold clearing system by the Singapore Exchange (SGX) by the end of 2026, with interbank trading to commence in 2027. This system will facilitate efficient trade processing and settlement during Asian trading hours, supported by six bullion banks including DBS and Deutsche Bank.
Additionally, MAS will introduce central bank gold vaulting services by October, complementing Singapore’s existing commercial vaulting capacity. This move aims to attract foreign central banks and sovereign entities seeking secure storage and active management of their gold reserves.
Efforts are also underway to develop gold-related capital market products, such as a physical deliverable gold futures contract by SGX. Furthermore, MAS plans to remove the 5% cap on physical investment precious metals under tax incentive schemes, allowing for greater portfolio diversification.
These initiatives are part of Singapore’s broader strategy to align with global standards and strengthen its role as a reliable market hub amidst growing demand for financial services in Asia. The city-state’s robust infrastructure and strategic location position it as a key connector in the global gold ecosystem.
