Singapore opens 500 tonne gold vault for central banks

The Monetary Authority of Singapore has rolled out a gold vaulting service for foreign central banks, with up to 500 tonnes of capacity in the national currency vault and room to expand as demand grows.

Why it matters: The service gives reserve managers a new Asian storage option as central bank demand for gold grows, and Singapore is pairing it with tax free wholesale bullion services and an over the counter clearing system to build a regional gold hub.

Data as of Monetary Authority of Singapore launch of Tuesday, November 10, 2026 (Singapore time), as reported by The Business Times and carried by Business Today, read in full in this run, and by Longbridge. The authority's own release was not located in this run, so the details rest on that reporting of the statements of MAS and its chairman, Gan Kim Yong. Developing item.

The Monetary Authority of Singapore rolled out its gold vaulting service on Tuesday, offering foreign central banks, sovereign entities and multilateral organisations storage in the national currency vault, which can hold up to 500 tonnes with room to expand. MAS chairman Gan Kim Yong, who is also deputy prime minister, said Singapore does not aim to replace other gold centres and is offering an additional option as demand for gold as a reserve asset grows. Alongside the launch, MAS and the finance ministry introduced an enhanced GST framework under which services between institutional participants, including vaulting, refining, recasting, assaying and broking, will not be charged GST from April 2027, and MAS will offer gold custody accounts to select Singapore based bullion banks.

Singapore’s over the counter gold clearing system, being prepared by the Singapore Exchange with six banks, is expected to be ready by the end of this year, with live trading and market operations scheduled to begin in the first quarter of 2027.

Singapore opens 500 tonne gold vault for central banks

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