Singapore wants a bigger slice of the global gold market. Is it too late to the party?

Singapore is expanding its gold vaulting capacity and tax incentives to capture a larger share of the global gold market. The move comes as Asian demand for physical bullion grows and rival hubs such as Hong Kong and Switzerland compete for storage and trading flows. Singapore hopes the added infrastructure will draw central banks, refiners and institutional investors to store metal locally. The city-state is betting that faster logistics and favorable tax treatment can offset its late entry against established vaulting centers. What to watch next is whether new vault capacity translates into measurable inflows and trading volume.