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Why the World’s Wealthiest Are Sending Their Gold to Singapore | WSJ
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00:00
Demand for gold is surging. Recently, sending prices passed $4,000 per trillion for the first time. In times of uncertainty, investors reach for gold.
黃金需求正在飆升。最近，金價首次突破每盎司4,000美元。在不確定時期，投資者會轉向黃金。
00:17
But this time, it's not just about buying more of it. The wealthy are rethinking where they stash their treasure away from traditional vaults in London and Geneva and east to new hubs like Singapore. That brings us here
但這次，不只是買更多黃金這麼簡單。富裕人士正在重新思考他們將財富藏匿何處，從倫敦和日內瓦的傳統金庫轉向東方，前往新加坡等新興中心。這就帶我們來到了這裡
00:36
inside some of the most secure private vaults in the world. This might look like just a warehouse, but it's a super sophisticated highly securitized storage facility. Here at the Reserve, security isn't just set in concrete, it's built
位於全球最安全的私人金庫之中。這裡看起來可能只是一個倉庫，但它是一個超級精密、高度安全的儲存設施。在這裡，安全不僅僅是寫在紙上，而是融入了
00:53
into the country itself. Singapore really doesn't have enemies in the world, makes it a very good long-term storage location. For many wealthy clients, peace of mind matters just as much as profit, and geopolitical unrest combined with global
進入國家本身。新加坡在世界上確實沒有敵人，這使其成為一個非常好的長期儲存地點。對許多富裕客戶而言，安心感與獲利同等重要，地緣政治動盪加上全球
01:09
economic uncertainty is one reason many are choosing to look eastward. Singapore is a wealthy jurisdiction, say will not have an incentive to nationalize gold in the future. It is a jurisdiction which made such wealth through building
經濟不確定性是許多人選擇向東方尋求的原因之一。新加坡是一個富裕的司法管轄區，他們表示未來沒有意願將黃金國有化。這是一個透過建立而累積財富的司法管轄區
01:26
confidence with clients. So for Singapore to nationalize something will be economic suicide essentially, and certainly Singapore is very well defended, and set combination of these three factors means that its ideal location to store wealth intergenerationally for 20, 30, 40 year timeframes. So traditionally, our
與客戶的信心。因此，新加坡將任何事物國有化基本上等同於經濟自殺，而且新加坡的國防能力確實非常強大，這三個因素的結合使其成為一個理想的跨代際財富儲存地點，可長達20、30、40年。所以傳統上，我們的
01:44
clients are people coming from Europe, from the United States, from Australia, it's mostly Western English speaking clients. A lot of them tend to be entrepreneurs, people who made their own companies and are in charge of their own
客戶來自歐洲、美國、澳洲，大多是英語系國家的西方客戶。他們很多人傾向於是企業家，是那些創立自己公司並掌握自己事業的人。
02:00
wealth management. Gregorson founded the Reserve to meet the growing demand for high-end facilities to store gold and other precious metals like silver. This strongy airport, it includes a towering chamber that can store up to 10,000 tons
財富管理。Gregorson 創立了 Reserve，以滿足日益增長的對儲存黃金和其他貴金屬（如白銀）的高端設施的需求。這個堅固的機場，它包含一個高聳的儲藏室，可儲存高達 10,000 噸
02:19
of silver worth about 16 billion dollars.
價值約 160 億美元的白銀。
02:23
The important part is the foundation which is going 32 meters into the ground to distribute this kind of weight, and 90 kilonewton flow loading means that it's about 45 times stronger than a cup or a cup. As a response to the soaring demand for precious metals, both gold and silver prices reach record highs in
重點在於地基，它深入地下 32 公尺以分散這種重量，而 90 千牛頓的載重意味著它的強度約為一個杯子或一個杯子的 45 倍。由於對貴金屬的需求飆升，黃金和白銀的價格均創下歷史新高
02:42
October, with silver topping 53 dollars a troy ounce and gold going beyond $4,300 per troy ounce. Because gold is much smaller in size and more valuable than silver, it needs to be stored in a place with an even higher level of
十月時，白銀每金衡盎司價格飆升至 53 美元，黃金則超過每金衡盎司 4,300 美元。由於黃金的體積比白銀小得多且價值更高，因此需要存放在一個安全等級更高的場所。
03:02
security. And while vaults like the Reserve might evoke movies like Oceans 11 or the Italian job, real security is less like Hollywood. It's quieter, layered, and designed to stop threats long before they get close.
而像 Reserve 這樣的金庫可能會讓人聯想到《瞞天過海》或《偷天換日》等電影，但真正的安全措施與好萊塢電影中的情節大相逕庭。它更為低調、層層設防，旨在於威脅靠近之前就將其化解。
03:19
What insurance companies want to see is UL class 2 gold vault standard, and that's essentially a vaulting standard which is defined in such a way that it will keep somebody out for one hour. And that's important in the context of
保險公司希望看到的是 UL 2 級黃金金庫標準，這基本上是一種金庫標準，其定義是能夠阻止任何人進入一小時。這在金庫安全方面很重要，因為有延遲元件。
03:35
vault security because you have a delay element. So this is our main gold world right now, and you will see he's safe to pause the box like containers, and we are doing this because that is the most efficient way of storing gold in
金庫安全，因為有延遲元件。所以這就是我們目前主要的黃金世界，你會看到它安全地暫停在箱子般的容器裡，我們這樣做是因為這是儲存黃金最有效的方式
03:51
a way that makes it easily retrievable. The Reserve has the capacity to store up to 500 tons of gold worth about 64 billion dollars. That's roughly 40,000 good delivery bars. The standardized size, major traders, and central banks use when dealing gold. Each one of those weigh about 400 troy ounces and costs about
以便於取用。該儲備庫可儲存高達 500 噸黃金，價值約 640 億美元。這相當於約 40,000 塊標準金條。這是主要交易商和中央銀行在交易黃金時使用的標準尺寸。每塊金條重約 400 金衡盎司，價值約
04:11
1.6 million dollars. But it's common for investors to break this up into smaller bars which weigh about 32 troy ounces each worth about 128,000 dollars. For many investors, gold bars like these have become a refuge from political turmoil
一百六十萬美元。但投資人常將其拆分成較小的金條，每條約重三十二金衡盎司，價值約十二萬八千美元。對許多投資人來說，像這樣的金條已成為避開政治動盪的避風港。
04:29
and shifting economic wins, especially in Washington. Reciprocal tariffs on countries throughout the world. Gregorson said mistrust in governments is also driving investors to store their wealth overseas, and in the reserve Gregorson is
以及變動的經濟局勢，尤其是在華盛頓。對全球各國課徵的互惠關稅。葛瑞格森表示，對政府的不信任感也促使投資人將財富儲存在海外，葛瑞格森在儲備庫裡
04:44
seeing more and more American clients. At some point the trust in the US dolomite falter, when that happens, the county will have to find some things that people can trust to back a new currency. And that is traditionally gold. And so a lot of our clients are looking at these sort of potential developments happening,
看到越來越多的美國客戶。總有一天，人們對美國的信任會動搖，到那時，這個國家將不得不尋找一些人們可以信任的東西來支撐一種新貨幣。而傳統上就是黃金。因此，我們的許多客戶都在關注這些潛在的發展動態。
05:04
and they're saying maybe I don't keep all of my gold in the US, maybe I keep it somewhere else. Many investors also choose physical gold instead of funds or futures to avoid counterparty risk. The chance a bank or a firm managing their investment might default. It's kind of like lending money to a friend and
他們說也許我不會把所有的黃金都放在美國，也許我會把它放在別的地方。許多投資人也選擇實體黃金而非基金或期貨，以規避交易對手風險。銀行或管理其投資的公司可能違約的機會。這有點像借錢給朋友，
05:23
your trusting they'll pay you back. But as the 2008 financial crisis showed, even trusted institutions like banks can fail to keep that promise. In 2008 you didn't know which big bank was going to fail next. In an environment like this
你相信他們會還錢給你。但正如2008年金融危機所示，即使是像銀行這樣受信任的機構，也可能無法兌現承諾。2008年時，你不知道下一家會倒閉的大銀行是哪一家。在這種環境下
05:39
you start saying that maybe the numbers I see on my screen aren't really set meaningful anymore tomorrow, therefore it makes sense to have a physical gold bar and the physical gold bar you can own as private property. The quiet and
你開始說，也許我螢幕上看到的數字明天就不再有真正的意義了，因此擁有一塊實體金條是有道理的，而這塊實體金條你可以作為私人財產擁有。寧靜且
05:54
understated stability of Singapore seems a million miles away from the chaos of 2008. And while it still handles only a small share of global gold holdings, Gregorson believes that's about to change. It says about well over a hundred billion
新加坡低調的穩定性，似乎與2008年的混亂相去甚遠。儘管新加坡目前在全球黃金持有量中只佔一小部分，但格雷格森相信這種情況即將改變。據說有超過一千億
06:10
dollars worth of gold being traded daily in London. Singapore is not even one percent of that. But I expect that gold harps such as Hong Kong, Singapore and probably Dubai have the right elements and the governments are wanting to develop it.
美元價值的黃金每天在倫敦交易。新加坡甚至不到這個數字的百分之一。但我預計香港、新加坡以及可能還有杜拜等黃金樞紐具備正確的要素，且各國政府都希望發展它。

Why the World’s Wealthiest Are Sending Their Gold to Singapore | WSJ

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📝 影片摘要

這段影片深入探討了全球富裕人士在當前不確定時期，將其黃金財富從倫敦和日內瓦等傳統儲存中心轉移至新加坡等亞洲新興樞紐的趨勢。影片解釋了金價飆升的原因，並強調新加坡作為黃金儲存地的獨特優勢，包括其國家穩定性、低地緣政治風險、政府不干預財產的承諾，以及世界級的高度安全金庫設施，如「The Reserve」。影片也指出，投資者轉向實體黃金是為了規避政府不信任和交易對手風險，並將新加坡視為長期世代財富傳承的理想地點。儘管新加坡目前在全球黃金持有量佔比不高，但預計其地位將大幅提升。

📌 重點整理

  • ✓ 全球黃金需求飆升，金價屢創新高，投資者在不確定時期轉向黃金避險。
  • ✓ 富裕人士正將黃金財富從倫敦和日內瓦等傳統金庫，轉移至新加坡等東方新興中心。
  • ✓ 新加坡作為黃金儲存地具有獨特優勢：國家穩定、地緣政治風險低、政府不會國有化黃金。
  • ✓ 新加坡的高度安全私人金庫，如「The Reserve」，提供超級精密、多層次的安全儲存設施。
  • ✓ 許多客戶是來自西方世界的企業家，他們尋求長期且世代傳承的財富儲存方案。
  • ✓ 投資者轉向實體黃金而非金融產品，是為了避免政府不信任以及交易對手風險。
  • ✓ 金庫安全標準如UL Class 2確保黃金儲存的安全性，設計理念是預防威脅而非僅事後應對。
  • ✓ 儘管新加坡目前在全球黃金持有量佔比小，但政府積極發展，預計其作為黃金樞紐的地位將大幅提升。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
需求
Demand
不確定性
Uncertainty
財寶
Treasure
精密的
Sophisticated
地緣政治的
Geopolitical
司法權
Jurisdiction
自殺
Suicide
貴金屬
Precious metals
關稅
Tariffs
交易對手風險
Counterparty risk

🔍 自訂查詢

📚 共 10 個重點單字
Demand /dɪˈmɑːnd/ noun
the desire of consumers for a particular commodity or service.
需求；要求
📝 例句
"Demand for gold is surging."
→ 黃金需求正在飆升。
✨ 延伸例句
"There's a high demand for eco-friendly products."
→ 市場對環保產品有很高的需求。
Uncertainty /ʌnˈsɜːrtənti/ noun
the state of being uncertain; doubt.
不確定性；疑惑
📝 例句
"In times of uncertainty, investors reach for gold."
→ 在不確定時期，投資者會轉向黃金。
✨ 延伸例句
"Economic uncertainty often leads to market volatility."
→ 經濟不確定性常導致市場波動。
Treasure /ˈtreʒər/ noun
a quantity of precious metals, gems, or other valuable objects.
財寶；珍藏品
📝 例句
"The wealthy are rethinking where they stash their treasure away from traditional vaults in London and Geneva and east to new hubs like Singapore."
→ 富裕人士正在重新思考他們將財富藏匿何處，從倫敦和日內瓦的傳統金庫轉向東方，前往新加坡等新興中心。
✨ 延伸例句
"The shipwreck divers found a chest full of ancient treasure."
→ 沉船潛水員發現了一個裝滿古代寶藏的箱子。
Sophisticated /səˈfɪstɪkeɪtɪd/ adjective
developed to a high degree of complexity; intricate.
精密的；複雜的；先進的
📝 例句
"This might look like just a warehouse, but it's a super sophisticated highly securitized storage facility."
→ 這看起來可能只是一個倉庫，但它是一個超級精密、高度安全的儲存設施。
✨ 延伸例句
"The new security system is incredibly sophisticated."
→ 新的安全系統極其精密。
Geopolitical /ˌdʒiːoʊpəˈlɪtɪkl/ adjective
relating to politics, especially international relations, as influenced by geographical factors.
地緣政治的
📝 例句
"For many wealthy clients, peace of mind matters just as much as profit, and geopolitical unrest combined with global"
→ 對許多富裕客戶而言，安心與利潤同樣重要，而地緣政治動盪加上全球
✨ 延伸例句
"Geopolitical tensions can significantly impact global markets."
→ 地緣政治緊張局勢會顯著影響全球市場。
Jurisdiction /ˌdʒʊrɪsˈdɪkʃən/ noun
the official power to make legal decisions and judgments.
司法權；管轄權
📝 例句
"Singapore is a wealthy jurisdiction, say will not have an incentive to nationalize gold in the future."
→ 新加坡是一個富裕的管轄區，據稱未來不會有動機將黃金國有化。
✨ 延伸例句
"The court has no jurisdiction in this type of case."
→ 該法院對此類案件沒有管轄權。
Suicide /ˈsuːɪsaɪd/ noun
the action of killing oneself intentionally; (figurative) an action that is disastrous for one's own interests.
自殺；（喻）自毀前程的行為
📝 例句
"So for Singapore to nationalize something will be economic suicide essentially, and certainly Singapore is very well defended, and set combination of these three factors means that its ideal location to store wealth intergenerationally for 20, 30, 40 year timeframes."
→ 因此，對新加坡來說，將某物國有化本質上將是經濟自殺，而且新加坡防禦良好，這三個因素的結合意味著它是跨世代儲存財富20、30、40年時間的理想地點。
✨ 延伸例句
"Launching that product without market research would be business suicide."
→ 未經市場調查就推出那項產品將會是商業上的自殺行為。
Precious metals /ˈpreʃəs ˈmɛtlz/ noun phrase
rare, naturally occurring metallic chemical elements of high economic value.
貴金屬
📝 例句
"Gregorson founded the Reserve to meet the growing demand for high-end facilities to store gold and other precious metals like silver."
→ 格雷格森創立了The Reserve，以滿足對儲存黃金和白銀等其他貴金屬的高端設施日益增長的需求。
✨ 延伸例句
"Gold, silver, and platinum are considered precious metals."
→ 黃金、白銀和鉑金被視為貴金屬。
Tariffs /ˈtærɪfs/ noun
a tax or duty to be paid on a particular class of imports or exports.
關稅
📝 例句
"Reciprocal tariffs on countries throughout the world."
→ 對世界各國實施的互惠關稅。
✨ 延伸例句
"The government imposed new tariffs on imported steel."
→ 政府對進口鋼材徵收了新關稅。
Counterparty risk /ˈkaʊntərˌpɑːrti rɪsk/ noun phrase
the risk that one of the parties to a financial contract will fail to honor its obligations.
交易對手風險
📝 例句
"Many investors also choose physical gold instead of funds or futures to avoid counterparty risk."
→ 許多投資者選擇實體黃金而非基金或期貨，也是為了避免交易對手風險。
✨ 延伸例句
"Derivatives often involve significant counterparty risk."
→ 衍生性金融商品通常涉及顯著的交易對手風險。
🎯 共 10 題測驗

1 What is the primary reason investors are turning to gold in recent times? 近期投資者轉向黃金的主要原因是什麼？ What is the primary reason investors are turning to gold in recent times?

近期投資者轉向黃金的主要原因是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video states, "In times of uncertainty, investors reach for gold."

影片中提到：「在不確定時期，投資者會轉向黃金。」

2 Where are wealthy individuals traditionally storing their gold, and where are they moving it to now? 富裕人士傳統上將黃金儲存在哪裡，而現在他們正將其轉移到哪裡？ Where are wealthy individuals traditionally storing their gold, and where are they moving it to now?

富裕人士傳統上將黃金儲存在哪裡，而現在他們正將其轉移到哪裡？

✅ 正確！ ❌ 錯誤，正確答案是 B

The wealthy are rethinking where they stash their treasure away from traditional vaults in London and Geneva and east to new hubs like Singapore.

富裕人士正在重新思考他們將財富藏匿何處，從倫敦和日內瓦的傳統金庫轉向東方，前往新加坡等新興中心。

3 Which of the following is NOT cited as a reason for Singapore's appeal as a gold storage location? 下列哪項「不是」新加坡作為黃金儲存地吸引力的原因？ Which of the following is NOT cited as a reason for Singapore's appeal as a gold storage location?

下列哪項「不是」新加坡作為黃金儲存地吸引力的原因？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video mentions Singapore has no enemies, will not nationalize gold (economic suicide), and is well-defended. High economic growth rate is not explicitly stated as a reason for its appeal as a gold storage location.

影片提到新加坡在世界上幾乎沒有敵人、不會國有化黃金（否則將是經濟自殺），且防禦良好。高經濟成長率並未明確提及是其作為黃金儲存地吸引力的原因。

4 What type of clients are typically using facilities like The Reserve for gold storage? 像The Reserve這樣的金庫設施，通常是哪種類型的客戶在使用？ What type of clients are typically using facilities like The Reserve for gold storage?

像The Reserve這樣的金庫設施，通常是哪種類型的客戶在使用？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video states, "Traditionally, our clients are people coming from Europe, from the United States, from Australia, it's mostly Western English speaking clients. A lot of them tend to be entrepreneurs."

影片提到：「傳統上，我們的客戶來自歐洲、美國、澳洲，主要是西方英語系的客戶。他們許多都是企業家。」

5 Why does gold require an even higher level of security compared to silver, according to the video? 根據影片，為什麼黃金比白銀需要更高層次的安全儲存？ Why does gold require an even higher level of security compared to silver, according to the video?

根據影片，為什麼黃金比白銀需要更高層次的安全儲存？

✅ 正確！ ❌ 錯誤，正確答案是 C

"Because gold is much smaller in size and more valuable than silver, it needs to be stored in a place with an even higher level of security."

「因為黃金體積小且比白銀更有價值，它需要儲存在一個安全級別更高的設施中。」

6 What is the purpose of the UL Class 2 gold vault standard mentioned in the video? 影片中提到的UL Class 2黃金金庫標準的目的是什麼？ What is the purpose of the UL Class 2 gold vault standard mentioned in the video?

影片中提到的UL Class 2黃金金庫標準的目的是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

"UL class 2 gold vault standard... is defined in such a way that it will keep somebody out for one hour."

「UL Class 2黃金金庫標準...其定義是能夠阻擋入侵者一小時。」

7 What is the approximate weight and value of a "good delivery bar" of gold, as mentioned in the video? 根據影片，一塊「良好交割標準金條」的重量和價值大約是多少？ What is the approximate weight and value of a "good delivery bar" of gold, as mentioned in the video?

根據影片，一塊「良好交割標準金條」的重量和價值大約是多少？

✅ 正確！ ❌ 錯誤，正確答案是 B

"Each one of those weigh about 400 troy ounces and costs about 1.6 million dollars."

「每一塊金條重約400金衡盎司，價值約160萬美元。」

8 Besides political turmoil, what other government-related factor is driving investors to store wealth overseas? 除了政治動盪之外，還有哪些與政府相關的因素促使投資者將財富儲存到海外？ Besides political turmoil, what other government-related factor is driving investors to store wealth overseas?

除了政治動盪之外，還有哪些與政府相關的因素促使投資者將財富儲存到海外？

✅ 正確！ ❌ 錯誤，正確答案是 B

"Reciprocal tariffs on countries throughout the world. Gregorson said mistrust in governments is also driving investors to store their wealth overseas."

「對世界各國實施的互惠關稅。格雷格森表示，對政府的不信任也驅使投資者將財富儲存到海外。」

9 Why do many investors choose physical gold instead of funds or futures? 為什麼許多投資者選擇實體黃金而非基金或期貨？ Why do many investors choose physical gold instead of funds or futures?

為什麼許多投資者選擇實體黃金而非基金或期貨？

✅ 正確！ ❌ 錯誤，正確答案是 C

"Many investors also choose physical gold instead of funds or futures to avoid counterparty risk."

「許多投資者選擇實體黃金而非基金或期貨，也是為了避免交易對手風險。」

10 What lesson did the 2008 financial crisis teach investors about wealth storage? 2008年金融危機給投資者帶來了關於財富儲存的什麼教訓？ What lesson did the 2008 financial crisis teach investors about wealth storage?

2008年金融危機給投資者帶來了關於財富儲存的什麼教訓？

✅ 正確！ ❌ 錯誤，正確答案是 B

"But as the 2008 financial crisis showed, even trusted institutions like banks can fail to keep that promise."

「但正如2008年金融危機所顯示，即使是銀行等受信任的機構也可能無法兌現承諾。」

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