Lates News

Although the price of gold plummeted on Monday, Singaporeans are still lining up to buy gold, showing the strong demand for precious metals from retail investors. The headquarters of DBS Bank, the only bank in Singapore that offers physical gold products to retail investors, was crowded with customers and temporary buyers visiting the dedicated precious metal trading lounge. The sudden acceleration in the price of precious metals last month was followed by a sharp drop last Friday and the downward trend continued on Monday, but many retail investors were not quick to sell and instead attempted to buy on the dip. Retail buyers may be betting on the main factors driving the rise in gold prices - the increasingly unpredictable Trump and the "depreciation trade" of investors avoiding currency and sovereign bonds. All products of the globally renowned precious metal brand MKS PAMP SA have been sold out and latecomers have no goods to purchase. The headquarters of DBS Bank announced, "Due to overwhelming response, all queue numbers for today's purchase have been distributed."