New address for central banks' gold! 500-ton vault in action

Singapore’s Monetary Authority (MAS) launched a new service allowing foreign central banks and official institutions to store gold reserves in a national vault with 500-tonne capacity. The move positions Singapore as a rival to traditional gold-storage hubs such as London, New York and Zurich, targeting official-sector demand for diversified custody locations. MAS did not disclose fees or initial client commitments. Watch for uptake among central banks seeking to reduce reliance on Western vaults and for further details on pricing and participating institutions.