Silver vault with 200 metric ton capacity unveiled in Singapore

It's already 30% booked.

According to a report by Bloomberg, a silver vault that can hold 200 metric tons opens in Singapore this week to cater for increasing demand for physical precious metals among Asia’s wealthy even as the commodity leads declines this year.

The new facility is 30 percent booked at the opening, said Joshua Rotbart, precious-metals general manager at owner Malca-Amit Global Ltd. The storage will add to the firm’s existing five vaults at the Singapore FreePort, which are fully reserved for gold, he said in an interview. Gold is about 66 times more expensive than silver.

Read full report here.

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