In brief
Singapore’s MAS has opened a 500‑tonne gold vault for foreign central banks, multilateral organisations and sovereign entities, and will offer custody accounts to selected local bullion banks. An enhanced Goods and Services Tax (GST) framework for wholesale gold trading is set to take effect in April 2027. The move aims to cement Singapore’s role as a global gold custody hub.
On 10 November 2026, Singapore's Monetary Authority of Singapore (MAS) announced the launch of a central bank gold vaulting service that will allow foreign central banks, multilateral organisations and sovereign entities to store gold in Singapore.
The vault has a capacity of up to 500 tonnes of gold and can be expanded to meet future demand, the statement said.
The national currency vault, where gold will be stored, currently holds up to 500 tonnes but its design allows further expansion.
In addition, MAS will provide gold custody accounts to selected Singapore‑based bullion banks that have demonstrated expertise in gold‑related services and liquidity provision.
MAS said that the service is available to foreign central banks, multilateral organisations established by governments or central banks, and sovereign entities.
The initiative comes alongside an enhanced Goods and Services Tax (GST) framework that will affect wholesale investment precious‑metal gold market activities, with the new rules set to roll out in April 2027.
MAS said the new framework is intended to better reflect the nature of wholesale Loco Singapore gold transactions, where gold is not meant for domestic consumption.
The enhanced GST framework, effective April 2027, aims to reduce tax complexity for wholesale gold trading while ensuring compliance with Singapore’s regulatory standards.
The overall move is aimed at strengthening Singapore's position as a global gold custody hub, bringing more international banks and financial institutions into the country.
