The ultra-rich are moving their gold reserves to a far-flung nation to shelter from the destabilizing impact of President Donald Trump’s economic policies. Trump can roil markets with the press of a button, his Truth Social posts usually serving as a bellwether for impending stock market chaos. In response, some mega-rich individuals are choosing to store their gold in a fortified reserve in the politically and economically stable Singapore, CNBC reports. “The Reserve,” as it is aptly known, is a security-guarded six-story facility near the city-state’s Singapore Changi Airport. From January through April, orders to store gold and silver in its private vaults sky-rocketed by 88 percent, its owner said. Some 90 percent of these orders originate outside of Singapore. Sales of gold and silver bars have seen an uptick of 200 percent also, Gregor Gregersen added. He told CNBC: “A lot of very high net worth clients are looking at tariffs, looking at the world changing, looking at the potential of geopolitical instabilities. The idea of putting physical metal in a safe jurisdiction like Singapore with parties they can trust is becoming a big trend nowadays.”
Read it at CNBC
