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Amid frenzied demand to buy and store silver, a Singapore retail supplier of coins and bars opened a new 600-metric-ton vault on Monday.
The sizable Silver Bullion Pte. Ltd. storage facility can hold some $390 million worth of silver (at Friday's prices of $20.33 per ounce). Known as The Safe House, the new facility is located west of Changi International Airport. At present, it keeps some 37 tons of silver, mostly for its retail clients, behind a secure 2.5-ton stainless door.