In January 2023, Singapore’s central bank, the Monetary Authority of Singapore (MAS) returned to gold buying again, adding a massive 44.6 tonnes of gold to its official reserves, and thereby boosting Singapore’s gold holdings from 153.8 tonnes to 198.4 tonnes. In percentage terms, this gold buying represents an incredible 29% increase in Singapore’s gold holdings in just one month. In fact, this is Singapore’s second largest largest gold purchase ever in one month, the only gold purchase that was larger was…
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