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Singapore Opens 'The Reserve' Vault for Wealthy Investors, Storing 500 Tons Amid 2024 Gold Demand at All-Time Highs

Aug 21, 2024, 04:13 AM

A new high-security vault named 'The Reserve' has opened in Singapore, catering to the increasing demand from wealthy investors and families for secure storage of physical gold bars and precious metals. This facility has the capacity to store up to 500 tons of gold, reflecting a broader trend as physical gold demand is expected to continue expanding throughout 2024. The surge in interest in gold storage comes amid rising gold prices, which reached all-time highs earlier this year. The establishment of such vaults highlights the growing focus on safeguarding wealth among affluent individuals in the region.