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Two years after opening its first precious metals store in Asia, on Orchard Road, German company Degussa GoldHandel has decided to close it at the end of the month. Its website carried the surprise one-sentence announcement. When it opened the branch in October 2015 as part of an international expansion strategy, the company said it

At the auction, held in Singapore, the company sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record. Of the 83 lots offered, 78 were sold with an average realized price of $61.13 per carat, the miner said. Al the stones offered

Singapore SINGAPORE’s strategy to develop itself as a gold hub has proven successful, as its imports and exports almost doubled in the years after the goods and services tax (GST) was removed for investment-grade precious metals in 2012. But there is still more work to be done, especially in increasing business flows now that the

Photo: 123rf.com Some Singaporeans think buying a lot of gold jewellery is the same as investing in gold. In particular, buying and gifting gold jewellery has deep cultural roots among Chinese and Indian Singaporeans, who tend to consider it as a sound investment. However, this is a misguided tradition. There is a big difference between

Watch Interview with Gregor Gregersen Similar to Switzerland, it’s a neutral country with no enemies. Citizens of Singapore have a mandatory military service of 2 years, where each man must train for 2 weeks per year until they turn 40, which gives them 950,000 troops they can call on at any given time. They also

This article first appeared in The Edge Financial Daily, on May 16, 2016. KUALA LUMPUR: Malaysia’s largest gold and silver trading company, Public Gold Marketing Sdn Bhd, is set to expand its footprint into Indonesia to capture a slice of the precious metal trading market in the largest economy in Southeast Asia. Public Gold executive

The German precious metals trader Degussa, which opened an office in Singapore about two months ago, is now expanding its offering into the digital sector. «Starting this month, customers in Asia will be able to purchase their gold bullion or coins online via the webshop of Degussa,» said Michael Kempinski, Managing Director of the German

by Fintech News Singapore October 5, 2015 Operated by Ripple Gateway Pte Ltd, Ripple Singapore is a Ripple gateway that uses the Ripple network to acquire, store and convert precious metals into any currency. Ripple Singapore Launched in January 2014, the service is Singapore’s first major Ripple gateway and the first in the world that

When Wilhelm Carl Heraeus took over his father’s pharmacy in Hanau in 1851, he blazed the trail for succeeding generations by establishing Germany’s first platinum foundry.  Through the years, family-run Heraeus Group has built a global reputation in developing and manufacturing sophisticated solutions for high-technology products based on precious and platinum group metals and materials

Question: Mr Gerald Giam Yean Song: To ask the Deputy Prime Minister and Minister for Home Affairs – (a) what is the weight limit on the transport of gold and other precious metals in and out of Singapore by individual travellers; (b) whether diplomats are exempt from this limit, if any; (c) whether the Police is

Victor Foo is the Singapore-based founder and CEO of the Singapore Precious Metals Exchange, a private platform that allows investors to buy, store and trade metals such as gold from anywhere in the world. The Malaysian executive spoke to the Journal about finding Tokyo’s best ramen, owning luggage that sticks out like a sore thumb,

In a joint press release, the International Enterprise Singapore, the Singapore Bullion Market Association, the Singapore Exchange and the World Gold Council said the contract, the first of its kind to be offered globally, underpins the creation of a centralized kilobar gold market, characterized by real-time transparent price discovery, daily expiration with physical delivery and robust

DEEP inside a nondescript building in Science Park lies one of Singapore’s most precious pieces of metal. It sits under two bell jars in a humidity-controlled room. It is guarded by three locked doors. And it is worth more than its weight in gold. Meet the national prototype of the kilogram – Singapore’s definitive 1kg

The exchange-traded Singapore Kilobar Gold Contract, expected to go “live” as early as in September, will introduce centralized trading and clearing of physically delivered gold, the World Gold Council (WGC) said in a release. The Asian city-state’s move to introduce the contract is part of regional efforts to set new price standards as the global

At the annual London Bullion Market Association (LBMA) Bullion Market Forum held for the first time in Singapore today, Mr Lim Hng Kiang, Minister for Trade and Industry, announced a new exchange-traded Singapore Kilobar Gold Contract[1] (“Contract”). This is the first wholesale 25 kilobar gold contract to be offered globally. Expected to go ‘live’ as

Goldbroker.com is one of the first companies to allow investors to own and store 100% allocated gold and silver bars Post this Goldbroker.com is one of the first companies to allow investors to own and store 100% allocated gold and silver bars, directly and in their own names, starting with a minimum order as low

Vanessa Doctor Asia Correspondent 3 October 2013 Matterhorn Asset Management, the Swiss asset manager that owns precious metals company GoldSwitzerland, has expanded its vaulting network with the opening of new facilities in Hong Kong and Singapore, the firm said in a statement. GoldSwitzerland, which has

SINGAPORE – Gold may be dropping to multi-year lows but that has not stopped a firm from launching an online platform that lets investors trade the metal. Touted as the first of its kind, the Singapore Precious Metals Exchange allows investors to buy, sell and then store gold or silver in a secure environment. Security

Deutsche Bank has announced the establishment of a new custodial and vaulting service in Singapore on the back of physical gold buying in Asia. The recent plunge in the price of gold has triggered investor demand as buyers enter the market to soak up what might be the right time to buy before another rally.

Deutsche Bank has announced the establishment of a new custodial and vaulting service in Singapore on the back of physical gold buying in Asia. The recent plunge in the price of gold has triggered investor demand as buyers enter the market to soak up what might be the right time to buy before another rally.

Posted: 18/03/2013 Jersey based GoldMoney has expanded into Singapore with the opening of a new vault facility in partnership with Brink’s. GoldMoney offers customers an easy and secure online platform to buy and store physical gold, silver, platinum and palladium. GoldMoney opened its Singapore vault facility on 11th December and is already storing nearly

October 25, 2012,Singapore. We’ve discussed at length the importance of owning precious metals. The financial system is so full of insolvent banks and bankrupt governments, and gold is one of the few assets that you can own which is not simultaneously somebody else’s liability. Now, there are no shortage of products out there to buy

Sept. 30, 2012 3:31 pm ET Singapore has emerged as one of the world’s hubs for private banking for the wealthy, and now it is making a play to become the Fort Knox of Asia. Starting Monday, the Southeast Asian city-state is scrapping a 7% tax on gold and silver in an effort to turn

At an electronics recycling plant in Singapore’s Tuas industrial zone, tons of electronic wastes are fed to the facility for the recovery of materials like steel, copper, plastic, and also silver and gold. China is rapidly becoming one of the largest generators of electronic wastes. [File photo]  The concentration of some precious metals in the

Gold’s London AM fix this morning was USD 1,662.00, EUR 1,271.61, and GBP 1,057.93 per ounce. Yesterday’s AM fix was USD 1,694.75, EUR 1,291.44and GBP 1,082.63 per ounce. Gold fell 1.7% in New York yesterday and closed at $1,676.10/oz. Gold fell in Asia prior to further falls in Europe which has gold now trading at

The plant has current capacity of 240 tonnes per year, but could be expanded to reach 1,400 tonnes – equivalent to 20GW of PV capacity – in three to four years if the industry grows as expected, says Peter Horan, general manager of Heraeus Materials Singapore. Silver paste is used to transmit the current created

Deep in the 7.4-acre Singapore FreePort next to Changi International Airport’s runways is the bullion vault of Swiss Precious Metals, behind seven-metric-ton steel doors built to survive a plane crash or earthquake. The rooms are almost full after demand rose five-fold in the year since the Geneva-based company opened the facility. The firm plans an

Energy Risk’s Precious Metals House of the Year, Asia has been awarded to JP Morgan for the strides made in building up its Asian precious metals business during a tumultuous period for global markets, not least of which was the pioneering step of opening a gold vault in Singapore in September 2010 JP Morgan’s global