Singapore was the third-largest net gold buyer in 2023. In March this year, the central bank of Singapore also bought 4 tons of gold. 🥉
1. How Much Gold Did Singapore Buy in 2023?
According to the World Gold Council, Singapore had 153.74 tons of gold by the end of 2022. Therefore, the addition of 76.5 tons of gold in 2023 means a substantial increase of 49.8% in Singapore's gold reserves.
Source:www.silverbullion.com.sg
Among developed countries, Singapore currently has more gold than Belgium, Sweden, South Korea, Australia, Denmark, Finland, Norway, and Canada.
Among ASEAN countries, Singapore's gold reserves rank second, only 14.14 tons behind the first place Thailand.
2. Questions for Tigers：
Why do you think central banks are actively buying gold?
Singapore is one of the few countries today without net debt. What are the benefits of Singapore's enhanced gold reserves?
As an ordinary investor, how did you invest in gold Assets？Physical gold? or Gold shares?
$Gold - main 2406(GCmain)$ $E-Micro Gold - main 2406(MGCmain)$ $ProShares Ultra Gold(UGL)$ $VanEck Gold Miners ETF(GDX)$ $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$
Comments
@TigerGPT no coins given though but please have your opinion [smile] [smile] [smile]
Why do you think central banks are actively buying gold?
Singapore is one of the few countries today without net debt. What are the benefits of Singapore's enhanced gold reserves?
As an ordinary investor, how did you invest in gold Assets？Physical gold? or Gold shares?
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