Super-Rich Shift Their Gold Holdings to Singapore Amid Uncertainty
As reported by CNBC, an increasing number of super-rich individuals are relocating their gold to Singapore due to global economic and geopolitical uncertainties. Close to Changi Airport, a facility known as 'The Reserve' houses approximately $1.5 billion worth of gold and silver, with storage orders rising by 88% within just a few months.
The founder, Gregor Gregersen, noted that many high-net-worth clients are opting to store physical gold in Singapore as it is perceived as a safe jurisdiction against geopolitical risks. Despite a recent dip in gold prices, market analysts still predict that prices could rise to $5,000 per ounce next year.
