PANews reported on March 3 that, according to Zhitong Finance, the Monetary Authority of Singapore (MAS) has held talks with several financial institutions, including major gold market makers UBS and JPMorgan, to assess the feasibility of developing Singapore into a physical gold trading hub. Sources familiar with the matter revealed that Singapore intends to develop into a gold trading and storage hub and has received support from the central bank and family offices. The Singapore Exchange (SGX) is also assessing market demand for new gold contracts. The relevant plans are still in the preliminary stages and may be subject to future adjustments.