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Singapore's gold hub strategy bears fruit as imports, exports rise

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Published : June 06th, 2017
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Category : Market Analysis

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 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 infrastructure is in place, said the Singapore Bullion Market Association.

In numbers released for the first time, statistics from International Enterprise Singapore show that total imports and exports of gold in Singapore have expanded from 474 tonnes in 2012 -- when the GST exemption started -- to a peak of 823 tonnes in 2014 before falling to 618 tonnes last year. ...

... For the remainder of the report:

http://www.businesstimes.com.sg/government-ec...s-gold-hub-s...

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Data and Statistics for these countries : Georgia | Singapore | All
Gold and Silver Prices for these countries : Georgia | Singapore | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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