Latest news with #SilverBullion
News18
11-06-2025
- Business
- News18
World's Richest People Have Hidden Rs 12,500 Crore Worth Gold In This Building
Last Updated: Singapore has increasingly earned the moniker "Geneva of the East", standing shoulder to shoulder with Switzerland as a preferred safe haven for the elite Ever wondered where the ultra-rich stash their treasure troves of gold? While most of us are content locking up our jewellery in bank lockers or home safes, the world's wealthiest individuals rely on something far more secretive, secure, and sophisticated – a facility in Singapore known simply as 'The Reserve". Tucked away near Singapore's Changi Airport, 'The Reserve" is a discreet six-story fortress that houses gold, silver, and other precious metals worth a staggering Rs 12,500 crore. This high-security building is not open to the public and operates as a private vault facility, providing top-tier safekeeping to global billionaires, investment moguls, and high-net-worth individuals (HNIs). Founded by Gregor Gregersen, the facility is managed by his company Silver Bullion, which has emerged as a trusted name in physical wealth protection. Inside, thousands of vaults and lockers are sealed within thick concrete walls, offering clients not just security, but complete discretion. In fact, from January to April 2025 alone, the demand for storing valuables at 'The Reserve" has shot up by 88%, a reflection of how geopolitical and economic instability is reshaping how the ultra-wealthy view traditional banking systems and investment instruments. Singapore has increasingly earned the moniker 'Geneva of the East", standing shoulder to shoulder with Switzerland as a preferred safe haven for the elite. With its robust legal system, political neutrality, and financial transparency, Singapore has become a global hotspot for wealth preservation. Why the shift? The answer lies in global anxiety. Trade wars, inflation fears, and banking collapses in several nations have shaken investor confidence. In countries like Lebanon, Algeria, and Egypt, where banking systems have buckled under economic pressure, many wealthy individuals now prefer storing their wealth in tangible assets, especially physical gold, rather than entrusting volatile banks or paper-based financial instruments like ETFs and mutual funds. The logistics of moving and storing gold internationally are no small feat. From transportation and insurance to high-end security, the costs are steep. That's why facilities like 'The Reserve" primarily cater to long-term investors, those who don't just see gold as a commodity, but as an anchor of financial survival in uncertain times. The vault's location also plays a critical role. With low crime rates, neutral foreign policy, and tight regulatory control, Singapore has positioned itself as an oasis of stability, a magnet for those looking to protect not just wealth, but legacy. As central banks in Asia reconsider monetary policy amid inflation concerns, Singapore's recent move to lower repo rates has only increased its appeal as a destination for asset storage and global investment. While this level of financial protection may seem like a luxury, to the world's richest, it's a strategic safeguard. As the global financial climate grows more unpredictable, secure storage of real, physical assets is no longer an indulgence; it's a necessity. First Published: June 11, 2025, 13:51 IST
Business Upturn
03-06-2025
- Business
- Business Upturn
Gold prices today on June 3: Check rates in Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad
By Aditya Bhagchandani Published on June 3, 2025, 10:09 IST Gold prices surged across major Indian cities on June 3 amid rising global uncertainty. Investors turned to gold and silver as safe haven assets, driven by Donald Trump's tariff standoff with China and the EU, ongoing Russia-Ukraine tensions, and anticipation around the US Federal Reserve's rate decision. On June 2, gold futures for June 5 delivery jumped 1.7% (₹1,630), pushing MCX gold to an intraday high of ₹97,505/10 gm. COMEX gold was also up 1.74% at $3,373. Meanwhile, silver crossed the ₹1 lakh/kg mark. At 7:20 AM on June 3, 24-carat gold was priced at ₹98,010/10 gm and 22-carat gold at ₹89,843/10 gm, as per the Indian Bullion Association. Silver (999 Fine) was trading at ₹1,01,300/kg. Here are the latest city-wise bullion and MCX rates for gold and silver: Mumbai Gold Bullion : ₹97,830/10 gm Silver Bullion : ₹1,01,120/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Delhi Gold Bullion : ₹97,660/10 gm Silver Bullion : ₹1,00,940/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Kolkata Gold Bullion : ₹97,700/10 gm Silver Bullion : ₹1,00,980/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Chennai Gold Bullion : ₹98,110/10 gm Silver Bullion : ₹1,01,410/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Bengaluru Gold Bullion : ₹97,910/10 gm Silver Bullion : ₹1,01,200/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Hyderabad Gold Bullion : ₹97,980/10 gm Silver Bullion : ₹1,01,280/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Note: Retail prices may vary due to taxes, making charges, and GST. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
31-05-2025
- Business
- Time of India
How Singapore became the go-to gold bunker for the ultra-rich
Global uncertainties are rising. The world's wealthy are moving assets to Singapore. Singapore's stability attracts them. It offers political neutrality and secure storage. Demand for secure storage is surging. Silver Bullion's facility is seeing increased orders. Singapore's legal framework and location are key. Investors are diversifying into tangible assets like gold. Singapore's commitment to law makes it trustworthy. Singapore's rise as a gold storage hub stems from its strong legal system, political stability, and strategic location. Investor appeal has grown further due to tax exemptions on investment-grade precious metals. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Strategic advantages fueling Singapore's rise Global trends driving the shift Rising inflation, conflict in the Middle East, fears of financial contagion in regional banking systems — global uncertainties are mounting. And in the face of this turbulence, the world's ultra-wealthy are moving their gold reserves and precious assets to one place: out of a dramatic split from Malaysia in 1965, Singapore has long put stability and business at the core of its nation-building strategy. With no natural resources to rely on, the city-state bet on finance, logistics, and the rule of law. That bet is paying as trust in traditional Western financial centers is shaken by rising regulation and uncertainties, Singapore's blend of political neutrality, low taxes, and ultra-secure storage facilities is helping it quietly become the go-to vault for global demand for secure storage in Singapore has surged amid global economic uncertainties and geopolitical tensions. Wealthy individuals are more into physical assets like gold to safeguard their wealth. For instance, Silver Bullion's facility, The Reserve , is designed to hold 500 tonnes of gold and 10,000 tonnes of silver, with an appetite for tangible Gregersen, the founder of the repository, stated that from the beginning of the year until April, there was an 88% increase in orders for storing gold and silver in the vault compared to the same period in 2024, as reported by CNBC . The Reserve, which also sells gold and silver bars, saw sales for precious metals bars skyrocket 200% year on year during that time, data provided by The Reserve ascent as a preferred gold storage hub is attributed to its robust legal framework, political stability, and strategic geographic location. The government's proactive policies, including exempting investment-grade precious metals from the Goods and Services Tax (GST), have further enhanced its appeal to investors seeking safe and efficient wealth preservation city's state-of-the-art storage facilities, such as Le Freeport—often referred to as "Asia's Fort Knox" offer high-security vaults for storing valuable assets. These facilities provide clients with confidentiality and peace of mind, essential factors for individuals and institutions aiming to safeguard their wealth against global market demand for secure storage solutions in Singapore aligns with a broader global trend where investors diversify their portfolios to include tangible assets like gold. Factors such as fluctuating currency values, inflation concerns, and geopolitical tensions have prompted the ultra-rich to seek stable environments for their commitment to upholding the rule of law and its reputation for low corruption levels make it an attractive alternative to traditional wealth havens. The city's commitment to transparency and regulatory compliance ensures it remains a trustworthy location for asset storage.
CNA
23-05-2025
- Business
- CNA
CNA938 Rewind - All that glitters is… silver?
CNA938 Rewind Gold has taken centre stage, outperforming many other major assets. But silver is also quietly carving out its own niche. From January 2023 to December 2024, silver has delivered a price return of 20.3 percent. Increasingly, silver is turning into a compelling asset that can shine in various market conditions. Andrea Heng and Hairianto Diman look at what's propping silver up and whether it will continue to gain traction with Gregor Gregersen, Founder of Silver Bullion.
