Former Taiwan Premier Urges Gold Strategy as Singapore, Hong Kong Compete

Gold is increasingly viewed by central banks as a hedge against inflation, geopolitical shocks and concentration in dollar-denominated reserves. Former Taiwan Premier Sean Chen, who chairs the New Generation Foundation, said Taiwan’s central bank has not increased its gold holdings for years and remains focused on market timing. He argued that reserve resilience and financial-center ambitions require a coherent national strategy rather than an ad hoc decision on whether gold is expensive.

The Monetary Authority of Singapore said on March 27, 2026, it would form a Gold Market Development Group and develop vaulting services for foreign central banks and sovereign entities. A day later, Hong Kong was reported to be seeking participation by central banks from friendly countries in its gold settlement system. Chen on April 8 urged Taiwan to review a reserve structure dominated by dollar bonds. The central bank said prices were high and it was not the right time to buy, offering no purchase amount or allocation target.