The World Is at an Inflection Point on Surging Food Prices

Singapore boasts an impressive gold vault as part of its foreign reserves, managed by the Monetary Authority of Singapore (MAS). The vault’s location remains top secret, with media given rare access under strict confidentiality. Within, gold bars are methodically stacked, each worth nearly US$800,000. Singapore has amassed approximately 222 tonnes of gold since 1968. Luke Chua, a gold dealer, emphasized gold’s consistent value, especially during crises. Its worth has significantly appreciated: from US$40 per ounce initially to US$2,000 per ounce. By July 2023, Singapore’s gold reserves exceeded S$442 billion.