The company will offer more convenience and flexibility for gold buyers in Singapore and Southeast Asia in storing and transporting their gold.
Enabling clients to book their investments in Singapore rather than in Hong Kong is «a needed step considering the political changes taking place in Hong Kong,» Joshua Rotbart, founder and managing partner of J.Rotbart & Co., told finews.asia in an interview.
Demand for storage and transportation services among Singapore clients has been growing steadily throughout the pandemic, particularly as they cannot easily travel between jurisdictions, the precious metals dealer said.
Silver Demand
Rotbart also highlighted growing demand for silver products in the republic. «Considering the fact that Singapore does not offer a local silver refinery, having a strong network of suppliers is crucial for satisfying demand for silver in Singapore,» he said.
«Singapore is leading the region with its stable environment and regulatory framework and we are happy to operate directly in this robust ecosystem,» Rotbart said.
Steady Growth
The Hong Kong based company, which marks its fifth anniversary this year, is also hiring more staff and relocated to a larger office in Sheung Wan, the heart of Hong Kong’s gold industry.
Rotbart said the dealership has enjoyed steady growth in recent years as more investors see gold as a reliable store of value that is not subject to the more extreme volatility of the stock markets or the fluctuating value of fiat currencies.
J. Rotbart recently expended its network of refiners to offer better solutions not only in Singapore but also in Switzerland and North America. The company is currently working on expanding our storage offerings to more locations, and on adding more services beneficial to investors in precious metals.
Crypto Challenge
Commenting on gold's place in investor portfolios, given higher Treasury yields and the growing adoption of cryptocurrencies as a store of value, Rotbart said gold serves to balance, or smooth the volatility inherent in a stock/bond portfolio.
«Bitcoin and crypto is even more volatile, and subject to increasing levels of fraud. Gold, silver, platinum and palladium were the top performing assets during the Covid-19 era, and proved their relevance more than ever,» he noted.
