Gold Market Ructions Drive Singapore Exports to the US
- Bullion shipments from city-state climb to highest since 2022
- Pricing disparities lure bigger flow to US amid tariff concern
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Gold shipments from Singapore to the US climbed to the highest level in almost three years in January, a further sign of the ructions in bullion trading after pricing disparities opened up in key markets.
Volumes of the precious metal shipped from the Southeast Asian city-state to the US rose to about 11 tons last month, up 27% from December, and the largest amount since March 2022, according to data from state agency Enterprise Singapore. Typically, most flows from Singapore go to destinations in Asia.