This article is extracted from BullionStar, a Singapore online bullion company where you can buy gold and silver at competitive prices.
...According to Scott Morrison,
Chairman of Swiss precious metals processor, Metalor Technologies, gold
refineries were unable to keep up with the demand from Asia investors as
the plunge in gold price sparked frenzy in buying gold bullions and
jewelry from China to India. His company expects to complete its US$15
million gold refinery on Singapore by the end of this year. The refinery
will have a capacity of 150 metric tons a year, he said.In a bid to expand Singapore’s share of gold bullion trading, the
government removed 7 percent GST from investment-grade precious metals
in 2012. The aim is to enhance trading and encourage the buying and
selling of gold and silver. Retail players should welcome this move as
having an vibrant ecosystem of trading facilities will ...
