Jun 142013
 

“SINGAPORE — Deutsche Bank is opening a vault in Singapore that can hold $9 billion of gold, as it hopes to tap rising demand for the precious metal in Asia amid a push by the city-state to burnish its image as a bullion-trading hub.

Singapore last year scrapped a goods-and-services tax on gold in a bid to help boost its share of global gold demand to 10%-15% within a decade from around 2% in 2012 as it seeks to compete with more established bullion-trading centers.”

Robert R. McEwen, chairman of Goldcorp Inc., holds a gold ba