In brief
The Monetary Authority of Singapore announced on Tuesday that it will offer a gold‑vaulting service for foreign central banks and other sovereign entities, storing bullion in the national currency vault with a 500‑tonne capacity. It will also provide custody accounts for selected Singapore‑based bullion banks and implement an enhanced GST framework for wholesale gold trading in April 2027.
On Tuesday, 10 November 2026, the Monetary Authority of Singapore (MAS) announced that it would launch a gold‑vaulting service to allow foreign central banks, multilateral organisations and sovereign entities to store bullion in its national currency vault.
The service will store gold in Singapore’s national currency vault, which currently can hold up to 500 tonnes and can be expanded as demand grows, MAS said.
MAS will also run gold‑custody accounts for selected Singapore‑based bullion banks that have experience in gold services and provide liquidity, the statement added.
In addition, MAS and the Ministry of Finance will introduce an enhanced Goods and Services Tax framework for wholesale investment precious metal gold market activities. The change, which aims to better reflect transactions in the Loco Singapore gold trading and settlement ecosystem where gold is not intended for domestic consumption, is expected to take effect in April 2027.
Loco Singapore is a gold trading and settlement ecosystem in which trades are priced, cleared and settled against gold physically vaulted in Singapore.
