Assessing G20 Nations' Gold Reserves Increase and Implications for Singapore's Reserve Management Strategy

Parliamentary Question by Assoc Prof Jamus Jerome Lim: 

To ask the Prime Minister and Minister for Finance (a) what assessment has been made of Group of 20 (G20) nations' recent increases in gold reserves as a percentage of total reserves; (b) whether any formal review has evaluated the implications of this trend for our own reserve management strategy; and (c) what specific factors will trigger reconsideration of our current gold allocation.

Parliamentary Reply by Second Minister for Finance, Ms Indranee Rajah:

The global demand for gold reflects its role as a safe-haven asset during periods of economic and geopolitical uncertainty. In Singapore’s context, the size of our gold holdings is based on our long-term objective of ensuring that our reserves portfolio remains resilient and well-diversified across economic and market conditions.