Two stories caught my attention over the past week. The first was an announcement in Geneva by Switzerland’s Palaedino Group and Euroasia Investment. They unveiled plans to store and manage gold in Singapore for ultra-wealthy clients who have lost confidence in banks and paper money. The gold will be stored in the high-security Singapore FreePort facility.Palaedino president Leonardo Castellana said worries about inflation, stoked by expansionary monetary and fiscal policies, had spread mistrust of paper currency. He added that the 2008 financial crisis sparked demand for super-secure assets held outside the banking system.
The second was an online poll conducted across 11 markets in the Asia-Pacific region — including Singapore, Australia, China, Hong Kong and India. It showed that Singapore residents are the most concerned with putting enough aside for retirement. Full story
