New York & London's Gold Dominance Over? Singapore Opens 'More Secure' 500-Tonne Vault | Vantage

Singapore is challenging London and New York’s dominance of the global gold trade. The city-state has launched a new gold custody service for foreign central banks and financial institutions, with a facility capable of storing up to 500 tonnes of bullion. In this video, Firstpost examines why Singapore wants to become a major gold hub, how Asia’s growing demand is driving the push and the incentives being offered to attract the industry. It also looks at the competition from Hong Kong, the…