Singapore increases its gold reserves

[VicBee]

For the first time since 2000, the Singapore government increased its gold reserves by 20% (26.3 metric tons) in May and June of this year, raising its gold reserves to 154 metric tons.

 

[Andrewler]

Is this a sign that cash is losing confidence and does this foreshadow an impending crisis or is it just a reflection of the foresight who still believe in gold as the safest foreign currency?

 

[Ed48]

If they bought in 2000, that was good timing as it turned out to be the bottom of a 2-decade bear market. (The UK sold off half its gold reserves around the same time. Doh!)

I wonder if their current purchases will prove to be as fortuitous.

 

[thehung111]

Time for a heist.

The Professor from Money Heist will re-locate to Singapore

 

[SunTrader]

Meanwhile the U.S. (according to the Treasury) 8150 metric tons.

And The Fed holds 404 metric tons for other nations.

I think we won't run short anytime soon.

 

[traderjo]

Time for a heist.

The Professor from Money Heist will re-locate to Singapore

Yes and be in Changi ever after LOL ( There are 2 changi in Singapore , one is the airport and the second is the jail)