Singapore sets OTC gold clearing, central bank vaulting for 2026
What's new: SGX plans Loco Singapore clearing by year-end, while MAS will start vaulting services for foreign central banks in October.
Singapore is rolling out new gold-market infrastructure as it tries to become a bigger trading and storage hub in Asia. Deputy Prime Minister Gan Kim Yong said Singapore Exchange will set up an over-the-counter clearing system for Loco Singapore, or physical gold stored in the city-state, by the end of the year. The Monetary Authority of Singapore will begin gold-vaulting services for foreign central banks and sovereign entities by October. Six banks — DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC and UOB — signed on as clearing members. Singapore is also studying a physically deliverable gold futures contract and lifting a 5% cap on physical investment precious metals under tax-incentive schemes for eligible funds and family offices.