RockBreaks – Singapore Unveils Gold Vault Services Targeting Central Banks
In a bid to tap the growing demand for diversified gold storage services, Singapore has launched a bullion storage service. With a capacity of 500 tons, and a possibility to expand as demand rises, the national currency vault of the city-state is now accepting customers. A statement released by Singapore’s Monetary Authority provided details about these services on Tuesday. The Monetary Authority revealed that it isn’t seeking to replace existing gold storage centers. Rather, the new vaulting services are aimed at providing alternatives to supplement existing facilities so that central banks and other institutional clients can have a diversified pool…