SINGAPORE - Gold purchases by the Monetary Authority of Singapore (MAS) and other central banks in Asia have stepped up over recent years amid inflationary pressures and geopolitical uncertainty.
China, Thailand and Singapore led the way in bullion buying between 2013 and 2022, noted World Gold Council data collated by City Index. Gold is generally regarded as a good hedge against inflation and a safe haven asset during times of uncertainty.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
