“In yet another attempt to encourage gold trading in the country, Singapore’s SGPMX, (Singapore Precious Metals Exchange) on Wednesday launched the world’s first physical precious metals exchange with peer-to-peer bullion trading capabilities integrated into the trading platform. As part of the launch, SGPMX also announces the entry into an MOU with Certis CISCO which will act as the custodian for bullion storage. The platform which will operate 24/7 will allow investors and traders to buy and sell physical gold for as little as $1,000. After they have bought it, the exchange will also provide facilities to store the gold with Certis Cisco Singapore.”
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