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Ultra-rich increasingly park gold in Singapore as global risks and Trump volatility rise
By Lee Ying Shan
CNBC, New York
Monday, May 26, 2025
The ultra-wealthy are increasingly moving their gold offshore as economic and geopolitical uncertainty roils markets -- and Singapore is emerging as a favored destination.
Not far from the city-state's airport sits a six-story facility covered in onyx and fortified by tight security. Tucked behind its steel doors are gold and silver bars amounting to about $1.5 billion.
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Known as "The Reserve," the storage facility features scores of private vaults and a towering storage chamber lined with thousands of safe deposit boxes reaching three stories high.
From the start of the year to April, the precious metals repository has received an 88% increase in orders to store gold and silver in the vault from the same period in 2024, said its founder, Gregor Gregersen.
The Reserve, which also sells gold and silver bars, saw sales for precious metals bars skyrocket 200% year on year in that time, data provided by The Reserve showed. ...
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