MAS' gold holdings up nearly 250% by value in 2023
The central bank's physical holdings of the precious metal have climbed by close to 50% in the first seven months of the year. Yet gold's share in the reserves portfolio remains small.
Singapore’s central bank has been an active buyer of gold in 2023, which has helped boost the value of its gold holdings by close to 250%.
The Monetary Authority of Singapore (MAS) has purchased the shiny metal for six of the first seven months of the year, according to its monthly international reserves and foreign currency liquidity data.
Both the physical holdings and value of those holdings have climbed.
The value of gold holdings in MAS’s US$340 billion official foreign r…
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