The Gold Rush East: How Singapore Became a Safe Haven for Wealth | WSJ

[searcher]

The Gold Rush East: How Singapore Became a Safe Haven for Wealth | WSJ​

Nov 25, 2025
As gold prices surge to a record $4,000, more of the world’s wealthiest from places like Europe, the U.S. and Australia are storing their gold in Singapore in vaults like The Reserve. Located near Changi Airport, this massive vault can store up to 500 tons of gold, worth about $64 billion. But why are people increasingly turning towards Singapore to store their wealth?
The WSJ secured rare access inside one of the world’s largest bullion valts–part of Singapore’s drive to become a global gold hub.


6:37

Chapters:
0:00 Gold’s demand
1:01 Why Singapore?
3:04 Vault security
3:39 How much gold is in the vault
5:09 Why invest in physical gold

 

[nickndfl]

I trust them more than Bank of America.

 

[Voodoo]

 

[Voodoo]

What I can't quite figure out... Is this a planned move with the fall of the US to the East... Or is this them trying to flee and avoid prosecutors for what is about to happen?

 

[pmbug]

Josh Crumb focused on Singapore for setting up the ABAXX exchange because of a favorable legal environment. IIRC, he was able to get Singapore to change some laws to facilitate the ABAXX exchange's gold tokenization schema.

Singapore’s Abaxx Exchange to trade gold and silver futures

Feb 22, 2025

Singapore’s Abaxx Exchange plans to introduce gold futures in the coming months, ...

The contracts – which will be physically deliverable in Singapore – will seek to connect futures and physical markets in one location, tapping into Asia’s potential, according to Mr David Greely, chief economist at the bourse, which is majority-owned by Abaxx Technologies.
...

More:

Singapore’s Abaxx Exchange plans gold futures as precious metal surges

The contracts will be physically deliverable in Singapore. Read more at straitstimes.com.

www.straitstimes.com

Not sure if this will develop into something significant or be just another "failure...

• pmbug
• Replies: 21
• Forum: PM Bug

Now rumors are swirling (thanks to Bill Still) that JPM might have already or be in the process of moving their gold and silver trading desk to Singapore.