Singapore Scraps 5% Gold Investment Limit, Launches Clearing System by October

XAU2.36%
According to Singapore's Deputy Prime Minister, the Monetary Authority of Singapore will scrap the 5% ceiling on precious metals physical investments under its fund tax incentive scheme. The Singapore Exchange is establishing an over-the-counter gold clearing system and exploring physically deliverable gold futures contracts. The MAS will launch a central bank vault custody service by October.
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