New Products
Nomura IWM Launches New Gold Trading And Custody Service
As gold is increasingly becoming part of an investor’s portfolio and as prices climb to their highest level in seven weeks, Nomura International Wealth Management launches a new service.
Nomura International Wealth Management (IWM) unveiled a Singapore-domiciled physical gold trading and custody service yesterday for high net worth and ultra-high net worth clients. The service is capitalising on increasing demand for the yellow metal.
The service allows clients to buy, sell, and safeguard physical precious metals within a secure, locally-vaulted infrastructure, the wealth manager said in a statement.
Clients will gain access to large gold bars and kilobars, with trading and custody services conducted within Singapore, reflecting the firm’s commitment to the region. The gold bars, around 400 troy ounces, are representative of the global benchmark for international trade settlement, and the kilobars, the preferred specification across Asian markets, the firm added.
"Gold has re-emerged as a cornerstone of wealth management, and our clients deserve access to propositions that are world-class. This is the first step in a broader strategic build-out that will cement Nomura’s position as the partner of choice for our customers," said Akshay Prasad, head of investment products and advisory solutions, Nomura International Wealth Management.
Gold climbed above $4,250/oz for the first time since June, breaking above its recent trading range of between $4,000/oz and $4,100/oz. In line with a number of investment managers, Arun Sai, senior multi-asset strategist at Pictet Asset Management, recently upgraded gold from neutral to overweight as investor demand is strengthening and emerging market central banks are continuing to increase reserves. He sees further upside for the precious metal as real interest rates gradually ease, eroding the opportunity cost of holding a non-yielding asset.
The expansion underscores Nomura IWM's commitment to developing solutions for client needs, providing access using Singapore’s stature as a global financial hub.