Singapore's first gold ETF is listed, with the gold price falling from $5,400 to $4,100.

Gate News: On March 26, Singapore Exchange officially listed its first ETF tracking local physical gold holdings — LionGlobal Physical Gold ETF, with a gold purity of no less than 99.5%. The fund was opened to retail and institutional investors on over-the-counter platforms about four months ago. Singapore’s move echoes its competitor Hong Kong’s strategy: Hong Kong has signed a gold clearing agreement with the Shanghai Gold Exchange and plans to build a vault with a capacity of over 2,000 tons within three years. However, as both places expand their gold investments, gold prices are under pressure and declining. U.S. gold futures exceeded $5,400 per ounce on March 2 and temporarily fell to $4,100. Analysts point out that Iran’s control of the Strait of Hormuz has driven up energy prices, increasing inflation expectations and causing central banks to delay easing monetary policies. The market logic has shifted from safe-haven to inflation, interest rates, and liquidity, putting continued pressure on gold.