Ultra-wealthy investors are increasingly shifting their gold offshore amid global instability, and Singapore is becoming a top destination. According to CNBC, orders to store gold and silver at Singapore’s high-security facility “The Reserve” rose 88% year-over-year from January to April. The Reserve’s gold and silver bar sales surged 200% over the same period. Founder Gregor Gregersen said that high-net-worth clients increasingly store physical gold in Singapore to hedge against geopolitical instability, adding that most new orders come from overseas. Analysts say Singapore’s political stability and status as a global transit hub are key to its growing appeal for wealth storage. Spot gold is trading near historic highs at $3,346.32 per ounce.
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