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

Assoc Prof Jamus Jerome Lim asked the Prime Minister and Minister for Finance (a) what assessments have been made of G20 nations' recent increases in gold reserves as a percentage of total reserves; (b) whether any review has evaluated implications for our reserve management strategy; and (c) what factors will trigger a reconsideration of our current gold allocation.

Ms Indranee Rajah (for the Prime Minister): 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.