Nomura will begin offering physical gold trading services for wealthy clients in Singapore.

Nomura Holdings' international wealth management division is establishing physical gold trading and custody services in Singapore for its affluent clients, a move that will support the country's ambition to position itself as a gold hub. Nomura stated on Wednesday that the trading and custody services will be conducted entirely in Singapore, allowing clients access to large gold bars and kilogram gold bars. These large gold bars weigh approximately 400 troy ounces and are the global standard for international trade settlement; kilogram gold bars are favored in various markets across Asia. "Gold has once again become a cornerstone of wealth management," said Akshay Prasad, head of investment products and advisory solutions at Nomura International Wealth Management, in the statement.