Safe-Haven Demand Surges: Singapore Private Bank Clients' Gold Assets Rise 40% in Six Months
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AI Summary (NQ-processed)
OCBC Singapore launches physical gold custody and trading services for high-net-worth clients. The bank's clients have increased their gold holdings by over 40% since end-2025, driven by geopolitical tensions and economic uncertainty.
AI Analysis
Frequently Asked Questions
- Q: When does OCBC's physical gold service start?
- A: It starts on June 10, 2025, for institutional clients and high-net-worth clients of Bank of Singapore.
- Q: Why are gold assets increasing at Singapore banks?
- A: Due to geopolitical risks and global economic uncertainty, the wealthy are increasing demand for gold as a safe-haven asset.
- Q: How much has global gold demand grown?
- A: According to the World Gold Council, global gold bar demand in Q1 2025 surged nearly 50% year-on-year.