An Australian firm is targeting billions of the city-state's Millennials - those aged between 18 and 30 - who are looking for an easier way to trade the precious metal.

A new digital gold-trading platform is set to launch in Singapore.

SendGold, a mobile application facilitating physical gold investment trading, will launch in March as its creator, Australia’s Gold-As-A-Service, targets “the two billion Millennials” controlling “16 per cent of Asia-Pacific’s wealth”.

Jodi Stanton, SendGold co-founder and chief executive, said: "Gold is the world's oldest form of currency, and SendGold has brought it right into the digital age. Our business is to grow the wealth of our customers by making physical gold investment hyper-liquid, simple, social and accessible to all.”