Silver vault for 600 tons starting in Singapore on demand

It could hold silver worth $390m.

According to a report by Bloomberg, Silver Bullion Pte, a Singapore supplier of coins and bars to retail investors, opens a 600 metric ton vault today as investor demand increases.

The storage could hold silver worth $390 million at prices on March 21. The company doubled sales to 1.04 million ounces in 2013 from 517,000 ounces a year earlier, said Gregor Gregersen, who founded the company in 2009. Almost all the sales were silver, he said in an interview in Singapore on March 18.

Read full report here.

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