Singapore Makes a $65 Billion Bet on the Future of Gold

For three years, the gold story was about who was buying. In 2026, it has become a story about where the metal sleeps at night. On Tuesday, the Monetary Authority of Singapore opened its national currency vault, with room for 500 tons of bullion, to foreign central banks and sovereign entities, and threw in a tax break for the wholesale gold trade to sweeten the deal. The launch lands three weeks after Bloomberg reported that wealthy American, European and Middle Eastern investors are already shipping their bars to the city-state, where privately…