J.P. Morgan to set up gold vault in Singapore

The bank has announced the launch of a precious metals vaulting facility in Singapore as global investors find refuge in gold.

J.P. Morgan will open a precious metals vault in Singapore in the third quarter of this year, according to a release issued by the US bank earlier this week. The timing could hardly be better.

Gold prices have surged as investors seek a safe haven from financial markets reeling from the European debt crisis. Gold for June delivery, the most active contract, reached $1,239.60 an ounce in intraday trading on Globex yesterday after closing at a record high on Tuesday....

To continue reading, please login or register for free

Click for more on: jp morgan | gold | precious metals | vault | singapore | peter smith

Print Edition

FinanceAsia Print Edition

CONFERENCES