New York & London's Gold Dominance Over? Singapore Opens 'More Secure' 500-Tonne Vault | Vantage
Singapore is challenging London and New York’s dominance of the global gold trade. The city-state has launched a new gold custody service for foreign central banks and financial institutions, with a facility capable of storing up to 500 tonnes of bullion. In this video, Firstpost examines why Singapore wants to become a major gold hub, how Asia’s growing demand is driving the push and the incentives being offered to attract the industry. It also looks at the competition from Hong Kong, the changing way central banks manage their gold reserves and the geopolitical concerns behind the shift. As central banks accumulate gold, Singapore wants to become one of the world's most important addresses for bullion. Hem Saroya tells you more.00:00 - Singapore's Move to Attract World's Gold
00:40 - London and New York's Gold Monopoly
01:00 - Inside Singapore's 500-Tonne Gold Vault
01:21 - Why Asia Demands Regional Storage
01:53 - Tax Incentives & Trading Infrastructure
02:49 - Hong Kong Enters the Race
03:10 - Why Central Banks Are Diversifying Reserves
03:51 - Geopolitics and Asset Freezes
04:35 - Can Asia Challenge the Western Gold Hubs?
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Singapore Gold Vault | 500 Tonne Gold Vault | Gold Storage | London Gold Market | New York Gold Market | Global Gold Trade | Gold Reserves | Bullion Market | Firstpost | Hem Saroya | Vantage
#singapore #gold #goldvault #goldmarket #goldreserves #bullion #goldinvestment #london #newyork #globalfinance #preciousmetals #firstpost #vantageonfirstpost
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