You are here

Ronan Manly: Singapore's gold buying soars but where is the metal kept?

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Wednesday, March 8, 2023

In January 2023 Singapore's central bank, the Monetary Authority of Singapore, returned to gold buying, adding a massive 44.6 tonnes of gold to its official reserves, thereby boosting Singapore's gold holdings from 153.8 tonnes to 198.4 tonnes.

... Dispatch continues below ...


... ADVERTISEMENT ...

USA Gold: Coins and Bullion Since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.


In percentage terms, this gold buying represents an incredible 29% increase in Singapore's gold holdings in just one month. In fact, this is Singapore’s second largest largest gold purchase ever in one month. The only gold purchase that was larger was when Singapore first bought 100 tonnes of gold from South Africa in 1968.

In typically discreet fashion, the central bank did not announce its recent gold buying via press release or any other publicity. It merely updated the data on its website in the latest version (end of January) of a monthly report called "International Reserves and Foreign Currency Liquidity." ...

... For the remainder of the analysis:

https://www.bullionstar.com/blogs/ronan-manly/singapores-central-bank-mas-boosts-gold-reserves-to-nearly-200-tonnes/

* * *

Toast to a free gold market 
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16