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Singapore to lead gold market as it shifts east, World Gold Council says
By Lee Ying Shan
CNBC, New York
Monday, June 10, 2024
SINGAPORE -- Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council.
One key reason is that gold consumption in major emerging economies is rising, and a majority of these markets are concentrated in Asia, said Shaokai Fan, head of Asia-Pacific and global head of central banks.
Singapore's proximity to these central banks, which are snapping up gold, is another factor, he added.
"The center of gravity of the gold market has shifted east, with Singapore, fortuitously placed as the potential fulcrum of this new balance," Fan said at the Asia Pacific Precious Metals Conference held in Singapore. ...
... For the remainder of the report:
https://www.cnbc.com/2024/06/11/singapore-to-lead-the-gold-market-said-the-world-gold-council.html
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