The Monetary Authority of Singapore (MAS) and the Singapore Bullion Market Association (SBMA) have set out key focus areas to strengthen Singapore’s position as a trusted gold trading centre serving the Asia-Pacific region, responding to growing investor interest in vaulting and trading gold in Singapore. The priorities were developed by a Gold Market Development Working Group established by MAS and SBMA in January 2026, following industry discussions and studies in 2025. Measures under development include gold-related capital market products to support price discovery and liquidity, robust and internationally aligned standards for vaulting and logistics, and a clearing system to enable secure and efficient over-the-counter settlement for large bar (400 troy ounce, about 12.4 kg) and kilobar (1 kg) gold in Singapore. MAS also plans to explore providing vaulting services for foreign central banks and sovereign entities. The working group is co-chaired by MAS and SBMA and includes DBS Bank, ICBC Standard Bank, JPMorgan Chase Bank, UBS AG, United Overseas Bank, SGX Group, and the World Gold Council, supported by technical workstreams with a broader set of banks, vault operators, a precious metals refinery, and trading houses. Over the next few months, the working group will develop detailed proposals for the measures under each focus area and provide periodic implementation updates over the course of 2026.

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