Singapore to establish OTC gold clearing system, introduce central bank gold-vaulting services

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Singapore's Monetary Authority of Singapore plans to establish an over-the-counter gold clearing system and introduce central bank gold-vaulting services. The initiative includes removing a 5% cap on physical precious metals investment under tax-incentive schemes for eligible funds and family offices.

MAS will remove a 5 per cent cap on physical investment precious metals under tax-incentive schemes for eligible funds and family offices