Singapore investors buy the dip, bucking global gold sell-off: OCBC, bullion dealers
Strong investor participation in Singapore and wider Asia suggests metal’s long-term role as a hedge continues
[SINGAPORE] While gold’s safe-haven role broadly gave way to a scramble for cash amid the escalating Middle East conflict, opportunistic buyers in Singapore are bucking the trend.
Rather than fleeing the market, investors in the city-state are using the recent price correction as a strategic entry point.
OCBC told The Business Times that it recorded a 60 per cent increase in gold transactions during the four weeks after the outbreak of the US-Israel-Iran war on Feb 28, compared with the four weeks prior.
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