According to CNBC, increasing global economic and geopolitical uncertainties are driving many billionaires to transfer their gold overseas, with Singapore emerging as a popular storage location.

Just a short distance from Singapore's Changi Airport is a six-story building called 'The Reserve,' heavily fortified and housing approximately $1.5 billion in gold and silver bars. This facility features dozens of private vaults and a towering storage room filled with thousands of three-story-high safes.

The founder of 'The Reserve,' Gregor Gregersen, stated that from the beginning of this year until April, the storage orders for gold and silver at the precious metals vault have increased by 88% compared to the same period in 2024. Additionally, he revealed that 90% of new orders come from outside Singapore.

As geopolitical risks grow, more wealthy individuals are opting for physical gold rather than cash, seeking to mitigate transactional and geopolitical risks. Nicky Shiels, head of metals strategy at MKS Pamp, noted that Singapore is viewed as the 'Geneva of the East,' known for its political and economic stability.

Although gold prices have recently cooled somewhat, some market observers believe that next year, gold prices could soar to $5,000 an ounce. Currently, the spot price of gold is around $3,346.32 per ounce, nearing historical highs.