Yahoofinance, Hong Kong, Mainland China, Bloomberg, Precious Metals

Yahoofinance, Hong Kong

Hong Kong unrest sends gold investors to seek haven in Singapore

Rising violence in Hong Kong is likely to undermine investment there, with Singapore a probable beneficiary. #YahooFinance


Rising violence in Hong Kong is likely to undermine investment there, with Singapore a probable beneficiary. YahooFinance

In the last 10 weeks, the breakdown of requests has skewed to around 75% for Singapore and 10% for Hong Kong , compared with a split of about 50-35 previously, said Joshua Rotbart, who runs the bullion house, which services high net-worth individuals, from Hong Kong .

J. Rotbart & Co., which helps customers buy, store and transport precious metals, says they have seen an increase in demand for gold storage in Singapore from new clients -- even when they’re based in Hong Kong or mainland China.

“Some clients are afraid of PLA intervention in Hong Kong, or of another closure of the airport, which will make it difficult to move their gold out of the city, as gold is shipped on commercial flights,” said Rotbart.

Capital flows -- for example, into real estate -- could divert to other Asian markets such as Singapore, while individual investors may shift wealth stored in Hong Kong’s insurance products to the city-state and elsewhere, BI said.

Read more: Yahoo Singapore

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