Page 20 - Bullion World Volume 5 Issue 06 June 2025

Bullion World | Volume 5 | Issue 06 | June 2025
B ullion W orld | V olume 5 | I ssue 06 | J une 2025

Hong Kong’s Gold Play:

A Wake-Up Call for Singapore?

Mr Gregor Gregersen, Founder and CEO, Silver Bullion Group

In his third national policy address to Hong Kong in October 2024,
Chief Executive John Lee Ka-Chiu stated that “Hong Kong must
build up global gold trade amid stiff competition from Singapore,
build an international gold trading market and develop world-class
gold storage facilities”.
The next day, in a follow up interview with the South China
Morning Post, the chief executive stated, “Hong Kong must move
quickly to regain a strong position as a gold trading centre, which
could be a ‘game-changer’ for the economy.”

These are unexpectedly powerful words to describe precious
metals, which have been dismissed by much of the financial
community as little more than “barbarous relics” over the past
forty years.

To understand the logic behind such optimism, it is best to start
with LCQ13 – Building International gold trading market, a press
release of the Hong Kong Legislative Council dated November 6,
2024.

LCQ13 provides policy details directly from the Acting Secretary
for Financial Services and the Treasury, Joseph Chan, as Mr Gregor Gregersen
presented in the Hong Kong Legislative Council.

20
20