[Singapore to Launch OTC Gold Clearing System This Year and Central Bank Gold Custody Service in October] According to Deep Tide TechFlow on June 16, citing Reuters, Singapore's Deputy Prime Minister Gan Kim Yong stated that Singapore will establish an over-the-counter (OTC) gold clearing system for the physical gold market, Loco Singapore, by the end of this year. Additionally, in October, Singapore will launch a central bank gold custody service, offering gold reserve storage solutions for foreign central banks and sovereign entities to enhance its gold trading and reserve service capabilities. The Singapore Exchange is also exploring the introduction of physically delivered gold futures contracts. Furthermore, it was disclosed that the Monetary Authority of Singapore will remove the 5% cap on investments in physical precious metals under tax incentive schemes for eligible funds and family offices.