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Singapore to launch gold clearing system in bid to become precious metals hub
By Owen Walker
Financial Times, London
Sunday, June 14, 2026
Singapore will launch an over-the-counter clearing system for gold this year, along with a vault service for central banks, as the city-state attempts to establish itself as a global trading hub for precious metals.
Several international banks, including JPMorgan, Deutsche, and DBS, will take part in the system, deputy prime minister Gan Kim Yong said this morning.
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"We are not seeking to replace established centres of gold trading and liquidity," he said. “Instead, Singapore can serve as a trusted node in the global gold ecosystem -- connecting regional demand with global liquidity and supporting market activity during Asian hours."
Singapore and its rival Hong Kong are jostling to become Asia's leading gold market, as the region plays a bigger role in the global trade for precious metals. ...
... For the remainder of the report:
https://www.ft.com/content/aefcbd59-37f6-4d82-8f2d-56eb0a02a053?syn-25a6b1a6=1
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