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SGX plans physical gold trade

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SINGAPORE — Singapore Exchange Ltd, Southeast Asia’s biggest bourse operator, is considering starting physical gold trading, according to three people with direct knowledge of the matter. 

The plan would include bullion deliveries into and out of the Southeast Asian country, said the people, who asked not to be identified because the issue is confidential. SGX declined to comment in an e-mailed statement.

SGX may join peers in South Korea and China in offering physical bullion trading as Asian demand increases, drawing supplies out of Europe. The Singapore government is promoting the city-state as a centre for precious metals by removing a sales tax on investment-grade metals in 2012, and as JPMorgan Chase & Co and UBS AG started storing gold for customers.

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