Deputy Prime Minister Gan Kim Yong, who is also chairman of the Monetary Authority of Singapore, announced the measures at the Asia-Pacific Precious Metals Conference in Singapore on 15 June, according to MAS's published speech page and reports by CNA and the Financial Times. The conference organiser lists the 2026 event as running from 14 to 16 June at the Shangri-La Hotel in Singapore.
The plan has three main pieces. Singapore Exchange will establish an over-the-counter, or privately negotiated, clearing system for Loco Singapore gold by end-2026, with interbank trading expected to build from 2027, according to Gan's speech as carried by MAS and CNA. Loco Singapore refers to physical gold stored in Singapore. MAS will introduce central-bank gold-vaulting services by October 2026 for foreign central banks and sovereign entities. MAS will also remove a 5% cap on physical investment precious metals under tax-incentive schemes for eligible funds and family offices, CNA reported, citing Gan.
Table: Singapore gold-market initiatives announced on 15 June 2026
| Initiative | Responsible institution | Timing | Intended function |
|---|---|---|---|
| OTC clearing for Loco Singapore gold | Singapore Exchange | By end-2026; interbank trading expected from 2027 | Clear privately negotiated physical-gold trades stored in Singapore |
| Central-bank gold-vaulting services | Monetary Authority of Singapore | By October 2026 | Let foreign central banks and sovereign entities store gold reserves in Singapore |
| Removal of 5% cap on eligible physical precious-metals incentives | Monetary Authority of Singapore | Announced on 15 June 2026 | Extend tax-incentive treatment for eligible funds and family offices |
| Physically deliverable gold futures contract | Singapore Exchange, exploratory | No launch date stated in the cited remarks | Support price discovery and risk management for Loco Singapore gold |
Source: MAS speech page, CNA and Financial Times, 2026.
Clearing is post-trade plumbing: a clearing house stands between counterparties after a trade and manages obligations, settlement and default risk. In gold markets, the London Bullion Market Association says over-the-counter precious-metals transactions are bespoke trades arranged between counterparties, which makes clearing and settlement infrastructure central to how liquidity is transferred across institutions.
Gan said Singapore was not seeking to replace established centres of gold trading and liquidity, according to the Financial Times. He framed the city-state as a trusted node connecting regional demand with global liquidity during Asian trading hours. That is a narrower claim than saying Singapore will displace London, New York, Hong Kong or Shanghai; it is a bid to add a venue where trading, storage and settlement can happen in the same jurisdiction.