Singapore's first gold ETF launched; Middle East conflict impacts gold prices.

According to Mars Finance, the Singapore Exchange today officially listed its first ETF tracking local gold reserves—the LionGlobal Physical Gold ETF, with a gold purity of no less than 99.5%. The fund had previously opened to retail and institutional investors on an over-the-counter platform approximately four months ago. This move by Singapore echoes the strategy of its competitor, Hong Kong: Hong Kong has signed a gold clearing agreement with the Shanghai Gold Exchange and plans to build a gold vault with a capacity of over 2,000 tons within three years. However, as both markets expand gold investment, gold prices are under pressure and declining. US gold futures fell from over $5,400 per ounce on March 2nd to as low as $4,100. Analysts point out that Iran's control of the Strait of Hormuz is pushing up energy prices and exacerbating inflation expectations, prompting central banks to postpone easing monetary policies. Market logic has shifted from safe-haven demand to inflation, interest rates, and liquidity, putting continued pressure on gold.