ANZ Singapore launches Gold Account

The account can be transacted in a wide variety of currencies including US Dollar, Singapore Dollar, Euro, Australian Dollar, New Zealand Dollar, British Pound and Japanese Yen.

ANZ CEO Singapore, Vishnu Shahaney said: “Strong global investor demand for gold particularly from China and India continues to outpace supply. ANZ’s Gold Account offers individual investors a direct and transparent link to the price of gold, and allows them to conveniently buy, sell and hold gold investments.”

“Gold has historically been seen as an inflation hedge and is viewed by investors as a means to diversify their portfolio, as the price of gold tends to have a low correlation with other asset classes. Given ANZ’s core strength in commodities, and increasing investor appetite for gold, we are pleased to provide our customers in Singapore with a Gold Account as part of our wide wealth management offering,” said Mr Shahaney.

Features of ANZ Gold Account include:

• ANZ’s Gold Account customers can buy and sell gold at prevailing market prices (XAU Spot) in minimum transaction quantities of 30 troy ounces at any time during banking hours.
• Gold buying and selling prices are quoted in leading currencies including US Dollar, Singapore Dollar, Euro, Australian Dollar, New Zealand Dollar, British Pound and Japanese Yen.