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Asian gold buying spree burnishing Singapore’s status as precious metals hub

While competition from other regional centres such as Shanghai and Dubai remains, the challenges could also bring opportunities

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Mia Pei

Mia Pei

Published Tue, Jun 18, 2024 · 05:00 AM
    • Asian gold markets have been boosted by central banks’ gold purchases and investors’ healthy buying, despite price surges.
    • Asian gold markets have been boosted by central banks’ gold purchases and investors’ healthy buying, despite price surges. PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SINGAPORE’S proximity to emerging gold markets in Asia as well as its political and financial stability amid global macroeconomic uncertainties are spurring its ambitions to become a regional gold hub, according to market watchers.

    While the price of gold has surged, investor demand has remained healthy in Asia, boosted by purchases by central banks in the region.

    Observers say this comes despite appetite for gold investments waning in the West.

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