28 Aug '16, 11am

Gold, gemstones pile up in Singapore vault in quest for haven

The stash of gold, silver and gems stored in the vaults and safe deposit boxes of Malca-Amit in Singapore has jumped almost 90 per cent in the past year as wealthy investors seek a refuge in a world of negative interest rates, stagnating economies and political uncertainty. The company's facilities in the city-state are about 70 per cent full and more than 90 per cent of the hoard comprises precious metals, according to Ariel Kohelet, managing director of Malca-Amit Singapore Pte, a logistics and storage provider, without giving specific figures. Revenue has grown at least 45 per cent in 2016 from a year earlier, he said in an interview ... (

Full article: http://www.forexfactory.com/news.php?do=news&id=604432

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