DBS Bank: Singapore may be able to enhance its position in the gold value chain.

Jacky Tai from the DBS Group stated in an email that Singapore can enhance its position in the gold value chain and become an active trading and clearing center for gold-related products. The Monetary Authority of Singapore and its precious metals industry association are seeking to strengthen the city-state's attractiveness for gold trading. He said that creating an ecosystem that covers capital market tools and physical infrastructure could deepen market liquidity. He added that Singapore may offer vault services to foreign central banks and sovereign entities, which also supports the city-state's attractiveness as a well-regulated jurisdiction. He further stated that as a member of the MAS Gold Market Development Group, DBS Group is exploring how to apply "innovative solutions using new technologies" to gold-related capital market products, and noted that interest in Singapore's physical gold capabilities is increasing in the market.