DBS Expands Gold Vaults to Support Singapore Gold Hub

DBS Bank increased its bullion vaulting space in 2026 to accommodate rising demand from private wealth and institutional clients. This expansion supports the strategic objective of the Singaporean government to establish the city-state as a global gold hub.

The increased capacity is a prerequisite for the launch of a local gold clearing system, which requires banks to store and settle large volumes of bullion. Other financial institutions, including OCBC and Deutsche Bank, are reportedly considering similar expansions to their storage capabilities.

Singapore is also evaluating the creation of a gold price benchmark to compete with Hong Kong, which launched its own price ticker and clearing system trial in July. While private storage capacity in Singapore is approximately 2,200 tonnes across The Reserve and Le Freeport, high-security basement space at Le Freeport is nearly full.