Singapore is a financial and trading hub and it has been that way for a number of years. In the last decade or so it has also become one of the leading places to buy gold bullion, with a host of top dealers, along with some of the best and most secure storage vaults in the world. But with countries such as India, China, the USA and Russia buying so much gold, why is it that this little country has become the go-to destination?
Location, Location, Location
As anyone in real estate will tell you, it’s all about location, and this is also a major reason why Singapore has become such a prominent destination for gold bullion. China and India are two of the world’s fastest growing economies, and as a result they also happen to be two of the world’s biggest purchasers of gold bullion. This substance tends to be hoarded by governments of developed nations and is also sought-after by those rising superpowers that want to secure their financial interests. Singapore is wedged between these two countries. It is also packed with rich businessmen and woman and is avery wealthy country and one where International trade has always been on the agenda. This means it is perfectly placed to sell gold to these two countries and even to broke trades between them.
Singapore has been quick to take advantage of this prime location, building a big industry out of this valuable metal, and as a result they have become a major player in the industry. This sort of power and success breeds even more power and success. Metalor Singapore is based in the country, producing huge amounts of gold. In fact, they have even been added to the London Bullion Market Association’s good delivery list, a very impressive accolade indeed. This company recently opened a new refining plant in the country, taking advantage of many new technologies and methods to become one of the most advanced refineries in the world. In this plant Metalor can produce as much as 150 tons of gold every year, which has a current market value of $7,200 million.
Thanks to its connections to the rest of the world, the many private millionaires and billionaires that operate here, and the obsession for gold that this country has, Singapore has also become a hotbed for bullion storage vaults. These attract custom from gold investors within Singapore, but the majority of their customers are from overseas, taking advantage of the private nature — not to mention the high security — of these vaults to store their gold.
Many vaults are linked directly to bullion dealers, which means that an International customer can order “X” amount of gold and then have it sent directly to the vault for a very minimal charge. This keeps fees down and ensures they don’t take any risks with their gold getting lost in the post. It also means that when they come to sell it, the bullion dealer may be able to buy it back. This is a win-win for investors all over the world, and that’s why many of them turn to Singapore for their gold purchasing and gold storing needs.
When it comes to gold it seems that no one else does it better.