"Challenging Hong Kong to a fight?" Singapore plans to launch a gold settlement system within the year.

Zhitong Finance APP learned that, according to media reports, Singapore plans to launch a gold clearing system this year to consolidate its position as a global precious metals trading hub. On June 15, Singapore's Deputy Prime Minister and Chairman of the Monetary Authority of Singapore, Tharman Shanmugaratnam, said that the Singapore Exchange will establish an over-the-counter clearing mechanism by the end of 2026, and interbank trading is expected to gradually begin next year.