Asian gold buying spree burnishing Singapore’s status as precious metals hub

SINGAPORE’S proximity to emerging gold markets in Asia as well as its political and financial stability amid global macroeconomic uncertainties are spurring its ambitions to become a regional gold hub, according to market watchers.

While the price of gold has surged, investor demand has remained healthy in Asia, boosted by purchases by central banks in the region.

Observers say this comes despite appetite for gold investments waning in the West.