Singapore has opened a central-bank gold custody service for foreign central banks and official institutions to meet rising demand for diversified reserve storage. The MAS said gold will be held in the national monetary vault, which currently has capacity of 500 tonnes and can be expanded as needed. The MAS chair and Singapore deputy prime minister said the move is not intended to replace other gold centres; central banks are seeking alternative custodial options to strengthen reserve resilience

Singapore has opened a central-bank gold custody service for foreign central banks and official institutions to meet rising demand for diversified reserve storage. The MAS said gold will be held in the national monetary vault, which currently has capacity of 500 tonnes and can be expanded as needed. The MAS chair and Singapore deputy prime minister said the move is not intended to replace other gold centres; central banks are seeking alternative custodial options to strengthen reserve resilience. MAS will offer custody accounts to selected precious-metals banks with operations and relevant expertise in Singapore.