On Tuesday, 10 November 2026, the Monetary Authority of Singapore (MAS) announced the launch of a central‑bank gold vaulting service, promising a secure holding facility for foreign central banks, multilateral organisations and sovereign entities. MAS said the gold will be stored in Singapore’s national currency vault, which has a capacity of up to 500 tonnes and can be expanded to meet future demand.
Xinhua reported that in addition to vaulting, the service will include gold custody accounts for selected Singapore‑based bullion banks with expertise in gold‑related services and trading liquidity. The announcement also mentioned an enhanced Goods and Services Tax (GST) framework for wholesale investment precious‑metal gold market activities, slated to take effect in April 2027.
The Channel News Asia note on the day of the launch echoed Xinhua’s main points, reinforcing that the gold will be stored in the national currency vault and highlighting the facility’s 500‑tonne capacity with room for expansion. While the link to its full article is currently unavailable, the brief mention confirms the core facts reported by Xinhua.
Bloomberg’s headline on the same day confirmed the launch of the vaulting service for foreign central banks and official institutions, noting that the precious metal will be stored... (Bloomberg cited no additional details beyond the service’s existence).
MAS’s move is framed as a step to strengthen Singapore’s position as a global gold custody hub. The agency described the new service as part of a broader strategy to attract foreign reserves and provide infrastructure for the Loco Singapore ecosystem, where gold trades are priced, cleared and settled against physically vaulted gold within the country.
The enhanced GST framework, according to Xinhua, aims to better reflect the nature of wholesale locally‑based gold market transactions, where gold is not intended for domestic consumption. The amendment is expected to apply to wholesale IPM gold market activities beginning in April 2027.
While no direct quotes are available from MAS officials or the Ministry of Finance, the shared details across Xinhua, Channel News Asia and Bloomberg suggest a unified picture: Singapore is expanding its gold custody capabilities, targeting foreign central banks and providing a tax‑aligned framework for wholesale gold trading.
