One in four surveyed central banks assess Asian gold storage

One in four central bank respondents said they were evaluating Asian hubs as possible locations for official gold reserves, according to a DBS white paper published Nov. 10. The research points to interest in the region’s storage infrastructure, with legal stability and political neutrality prominent in institutions’ choice of location.

Money Talk·November 11, 2026·reads: 270

One in four surveyed central banks assess Asian gold storage

The report, Gold in an Age of Transformation, draws on an independent survey of central banks, asset managers and banks commissioned by DBS and conducted by Kantar in September 2026. About half of the surveyed asset managers and banks said state-backed gold infrastructure had increased their interest in Asian hubs. Among central bank respondents, about 50% identified legal stability and political neutrality as the most important factors when choosing a new storage location.

DBS Chief Economist Taimur Baig said Asia had long been the leading source of physical gold demand, while much of the trading infrastructure remained concentrated in Western financial centres. As the region’s role grows and investment channels expand, he said, trusted market infrastructure will be critical.

The paper described central bank allocations as a major structural anchor for the global gold market, citing efforts to diversify foreign exchange reserves amid geopolitical fragmentation. World Gold Council data cited in the report show central banks’ gold holdings grew by an average of 1.2% a year from 2009 to 2025. The paper said gold was increasingly treated as a strategic reserve asset rather than a legacy holding.

Institutions also anticipated growth in gold-linked investment products over the next 12 months: respondents ranked exchange-traded funds and derivatives at 27% each, and tokenised gold at 18%. The report said market liquidity, regulatory clarity, clearing and custody infrastructure, and cost efficiency ranked ahead of time-zone alignment and geographic proximity in institutional priorities.

Asia accounted for more than half of physical bar and coin investment and jewellery demand in 2025. Global gold demand exceeded 5,000 tonnes that year, reaching a record $555 billion in value, according to the report. DBS said stronger regional infrastructure could improve liquidity during Asian trading hours, support local clearing and settlement, and encourage more trading in gold bars.