Europe trading firm's comeback in Singapore

Singapore

CHINA may be a larger market for gold, but Singapore as a free market is more attractive for foreign players, in the view of Europe's largest trading firm.

"Singapore is more free market and is less governed than China," said Raphael Scherer, chief international officer of Degussa Goldhandel. "They've started doing the free trade zone, but the scale is so small it's not attractive for us . . . It seems to me that more of the music is playing in Singapore now for us."