Singapore Opens a 500-Ton Gold Vault for Central Banks. Are They Still Buying?

Singapore’s central bank, MAS, has launched a gold vaulting service for foreign central banks at its national currency vault, with capacity for up to 500 tonnes. The move is a bet that official-sector gold demand will persist even as prices have fallen this year, with central bank purchases holding up through the decline. The service positions Singapore as a custody hub for sovereign reserves and could draw bullion flows toward the city-state. What to watch next is whether foreign central banks sign on as clients and whether official buying continues to offset weaker price momentum.