Gold Investment In Singapore: The Gold Standard 2025 Guide

• Gold as a safe haven: A precious metal, gold has been around for centuries, preserving its value over the years and proving to be a good hedge against inflation. It is known to be a safe haven investors fall back on in times of market volatility, as gold can hold its monetary value. 

• Gold is a tangible asset: Much like cash and property, gold is an item you can see, feel and touch. This makes it an asset you can possess physically which is why owning and buying physical gold in Singapore, such as gold bars and jewellery, provides a perception of safety and security unlike other investment assets such as stocks, bonds or cryptocurrencies. 

• Diversification of your portfolio: Diversification is one way you can reduce the risk you take in your portfolio. This is done by spreading your investments across asset classes, geographies and industries so that when one industry or asset class takes a hit, your entire portfolio won’t go under. Adding gold to your portfolio is one way to increase diversification, especially as gold has shown to have low correlation to major asset classes.

• Globally accepted and recognised: Gold is a precious metal that is recognised and valued all across the world. Be it a jewellery seller in Singapore, South Korea, or the USA, you will be able to sell your gold. 

• Aesthetic appeal: Some people might purchase gold not just for investment reasons, but also because gold items look beautiful, classy and elegant. This could be gold items such as your wedding bands, necklace, earrings and bangles.

Gold prices are shaped by global economic conditions, interest rates, and geopolitical events. Historically, gold serves as a safe haven, with prices rising during crises. For instance, during the 2008 global financial crisis, gold prices surged, with the Producer Price Index (PPI) for gold increasing by 101.1% between 2008 and 2012. Gold also shows an inverse relationship with other assets, often rising when stocks or bonds falter. Priced in USD, its value typically moves opposite to the dollar's strength. Supply and demand further influence gold prices—spiking when consumer demand increases or central banks bolster reserves, and dipping during periods of reduced interest.

Buying gold is an investment type you can wear. 

Gold jewellery, including gold wedding bands, gold earrings, gold bangles, gold anklets and gold necklaces are all items commonly found in households. These gold jewellery items are practical to keep compared to other jewellery investments such as diamonds, as gold is able to preserve the value over time, making it an enduring choice despite changes in fashion trends. This is because the value of gold lies in its weight and purity.

The best part about buying gold jewellery is that they can be worn as an accessory. Even if you choose not to sell your gold jewellery in the future, you can still find purpose with your gold jewellery, wearing it out on special occasions, or even keeping it as a hand-me-down for your children. Gold jewellery is also easy to purchase. You can head into any jewellery shop or even pawn shops to purchase off the counter. 

Gold bullion refers to high-purity physical precious metals, typically available as bars, ingots, or coins. With purity levels of 99.9% (.999 fine) or 99.99% (.9999 fine), the slight difference in purity may appeal to specific collectors or investors seeking the highest quality. Renowned for its enduring value, gold bullion is a timeless asset often passed down through generations.

One of the most traditional ways to invest in gold in Singapore is buying gold bars or gold bullion coins from gold retailers based on the current rates. For example, a one kilobar of gold bar could be valued at approximately S$85,000 today, making it a significant addition to your portfolio.

Gold bullion: Bars vs. coins

Gold bullions are available in two primary forms: gold bars and gold coins.

• Gold Bars: These typically range in weight from small 1-gram bars to larger 1-kilogram bars. They are ideal for investors aiming to purchase gold in significant quantities due to lower premiums per gram compared to smaller denominations.

• Gold Coins: These usually weigh between 1 gram and 1 ounce (approximately 31.1 grams). Gold coins like the Maple Leaf, American Eagle, or Krugerrand are popular among collectors and investors for their smaller sizes and intricate designs.

Each form offers unique advantages. Gold bars provide efficient storage and cost-effectiveness, while gold coins offer liquidity, divisibility, and aesthetic value.

Things to consider when you buy physical gold for investment 

When buying physical gold in Singapore, consider the following factors:

1. Purity: Ensure the gold is certified with high purity levels (e.g., 99.99% or 24 karats).

2. Storage: Physical gold requires secure storage, such as a safe deposit box at a bank or a home safe, to protect against theft or damage.

3. Resale Value: Coins with historical or collectible value might have a higher resale price, but they could be less cost-effective than bars initially.

4. Premiums: Bars generally have lower premiums compared to coins due to production costs.

5. Market Rates: Keep an eye on gold prices to time your purchase effectively.

Where to buy gold bullion bars or coins in Singapore

Investing in physical gold in Singapore is straightforward, thanks to a variety of reputable dealers and institutions. Here are some top options to consider:

• BullionStar: BullionStar is a leading platform for purchasing, shipping, and storing precious metals. They offer a user-friendly platform where investors can select stock locations and view available inventory. BullionStar also provides secure vault storage solutions in Singapore, the United States, and New Zealand, ensuring your investment remains protected.

• Silver Bullion: Silver Bullion specialises in the trade of gold, silver, and industrial metals. Their upcoming mega vault project, The Reserve, is expected to hold 15,000 metric tons of metals, offering security for precious metals storage. This facility ensures enhanced protection and storage options for investors.

• Central Precious Metal: Central Precious Metals offers a range of gold and silver products for purchase. They cater to both retail and institutional investors, providing a reliable source for bullion bars and coins in Singapore.

• GoldSilver Central: GoldSilver Central provides a wide selection of gold, silver, and platinum products, including bars and coins. They also offer secure storage solutions and valuable insights through market analysis and educational resources, making them a trusted partner for precious metal investments.

• Indigo Precious Metals: Indigo Precious Metals specialises in high-quality, investment-grade precious metals, offering a broad range of products such as minted and cast bars and coins. Their focus on quality and secure storage solutions makes them a popular choice for investors.

• BullionVault: BullionVault provides private investors with access to professional bullion markets at some of the lowest costs available. Their inclusive insurance and low storage fees make them a cost-effective choice. Investors can sell gold at any time without penalties or withdraw their physical bars.

• The Singapore Mint:The Singapore Mint, widely recognized for its collectible gold coins, also offers bullion products. They are a trusted source for high-quality gold coins that appeal to both collectors and investors.

• UOB (United Overseas Bank): UOB allows existing customers to buy gold bullion bars and coins either online or in person at their Main Branch. Additionally, CPF funds can be used for gold purchases under the CPF Investment Scheme, making it an accessible option for Singaporeans. 

If you are an existing UOB Gold Savings Account (GSA) customer, good news! You can now turn your holdings into 100g Argor gold bars — a new offering introduced by the bank, so you have the flexibility to hold gold either digitally via a gold savings account (refer to point #6) or convert it into physical gold. To convert, visit the UOB main branch gold counter at Raffles Place. Do note that there is a physical conversion premium of S$100 per piece.

Pros and cons of buying gold bullion for investment

Instead of buying physical gold, you can invest in gold by purchasing an ETF. Gold ETFs offer a cost-efficient way to gain exposure to gold without owning physical gold. These funds track the price of gold by holding physical gold or investing in gold-related assets. For instance, the SPDR Gold Shares ETF is a leading gold ETF that holds physical gold bars to mirror the price of gold bullion.

In Singapore, ETFs have shown to be a popular investment vehicle, with the SPDR Gold Shares ETF leading the charge. Singaporean investors can access them in local currency on the SGX. Gold ETFs trade on stock exchanges, making it highly liquid and accessible to all investors. Using the aforementioned SPDR Gold Shares ETF as an example, it is the largest physically backed gold ETF with more than US$70 billion worth of assets. It holds gold bars with the aim of tracking the performance of gold bullion. Other gold ETFs, such as the iShares MSCI Global Gold Miners ETF and VanEck Vectors Gold Miners ETF, diversify their focus by tracking gold mining companies, offering investors broader exposure to the gold market.

How & where to buy gold ETF in Singapore

Singaporeans can invest in gold ETFs via various platforms, including stock exchanges and investment apps. Popular ETFs include:

• SPDR Gold Shares ETF: Renowned as the largest gold-backed ETF, it provides direct exposure to gold prices, making it a trusted choice for investors seeking market-leading liquidity and reliability.

• iShares MSCI Global Gold Miners ETF: Diversifies investments by tracking global gold mining companies, appealing to those interested in both gold price movements and the growth potential of mining businesses.

• VanEck Vectors Gold Miners ETF: Targets high-growth gold mining firms, offering opportunities for capital appreciation alongside gold exposure.

• abrdn Physical Gold Shares (SGOL): Designed for cost-conscious investors, this ETF tracks gold bullion prices with a low expense ratio, maximising value.

• GraniteShares Gold Trust (BAR): Secures investments with physical gold stored in London vaults, ensuring peace of mind and authenticity.

To purchase a gold ETF, open an account with a brokerage platform or an investment app like Moomoo. Moomoo offers a user-friendly interface, making it easy to search for and invest in gold ETFs. Learn more about Moomoo and check their current promotions.

Benefits of gold ETFs compared to physical gold

Gold ETFs are ideal for investors seeking liquidity, low transaction costs, and easy access to the gold market. Unlike physical gold, ETFs can be traded on stock exchanges, and they eliminate the need for storage.

Pros and cons of buying gold Exchange Traded Funds (ETFs)

Other than purchasing an ETF, you can also consider picking individual stocks tied to businesses in the gold mining industry. Gold stocks represent an investment in companies involved in the extraction of gold from their mines. Examples of such stocks include Newmont Corporation and Barrick Gold Corporation. Newmont Corporation is the world's leading gold company that actively operates mines in nine countries. It is also the only gold producer listed in the S&P 500 Index. 

The price of gold directly impacts these stocks, as higher gold prices generally lead to increased profitability for gold mining companies, which can result in rising stock prices. Conversely, a decline in gold prices can negatively affect the financial performance of these companies, leading to a decrease in stock values. Additionally, demand for gold, both as an investment and for industrial purposes, can affect gold mining companies' revenues. If demand for gold increases, it often leads to higher prices, which benefits gold mining companies. On the other hand, lower demand can result in lower gold prices, impacting the profits of gold stocks.

How to buy gold stocks in Singapore

If you are wondering how to buy and  invest in these gold stocks in Singapore, you can purchase them through online brokerage platforms. This allows you to make intraday trades, similar to how you would trade ETFs or other types of stocks. For investors seeking a passive income stream, gold stocks also offer dividends, making them an attractive alternative to physical gold.

As mentioned above, both Newmont and Barrick Gold are globally recognised and listed on major stock exchanges, with Newmont being a notable example due to its position in the S&P 500 Index. By investing in gold stocks, you gain exposure to the gold market while benefiting from the operational growth of mining companies, as well as potential dividend payouts.

Why Consider Gold Stocks

Gold stocks offer several advantages for investors. They provide exposure to the gold market indirectly through the performance of mining companies. For those interested in benefiting from the operational success and growth of these companies, investing in gold stocks can be a strategic choice. Additionally, gold stocks provide the potential for dividends, which is not available when owning physical gold or gold ETFs. This makes gold stocks an appealing choice for income-focused investors who want to profit from the rise in gold prices and the growth of mining companies.

Pros and cons of buying gold stocks

A gold certificate is a document that proves ownership of a specific quantity of gold without the need to physically store the metal. These certificates are often issued by banks and can be exchanged for physical gold or cash, depending on the holder's preference. Essentially, a gold certificate functions as a receipt for gold, making it a convenient way to invest in gold without the hassle of storage and security concerns. These certificates can be held by one or more holders, offering flexibility in ownership. 

For example, UOB has gold certificates that are priced similarly to gold bars.  They are sold in kilocerts and up to a maximum of 30 kilobars per certificate. They also have no expiry date, so you won’t be forced to liquidate your gold certificate. However, these gold certificates come with a fee. UOB charges a flat S$5 per certificate as well as a service charge of S$72 per kilobar per annum, subject to GST.

How to buy gold certificates in Singapore

Gold certificates can be purchased through banks like UOB, which provides this service to investors interested in owning gold without physical possession. To acquire gold certificates, investors can open an account with a bank that offers this service, after which they can buy and hold certificates backed by actual gold reserves. This provides an easy way to gain exposure to gold without needing to manage the logistics of storage or security for physical gold.

Why consider gold certificates

Gold certificates offer the convenience of holding gold in a paper form without the need for physical storage, which is ideal for individuals concerned with space and security. They also offer a similar value proposition to owning physical gold bars, as the certificates are tied to tangible assets. For those who want exposure to gold in a liquid, manageable format, gold certificates present a practical and low-maintenance alternative.

Pros and cons of buying gold certificates

When it comes to savings accounts, the usual names like DBS Multiplier, OCBC 360 and UOB One come to mind. But did you know that UOB offers a unique product — a gold savings account (GSA)? 

A  gold savings account allows you to buy and sell gold without having to physically purchase the gold. Your gold holdings are recorded in grams and the minimum quantity per transaction is five grams of gold.

From August 2023, you can also turn your UOB GSA holdings into 100g Argor gold bars! This allows you the flexibility of being able to hold gold either digitally or physically, but note that there is a physical conversion premium of S$100 per piece. This conversion programme only applies to GSA holdings purchases with non-CPF funds.

Where and how you can invest in gold with a gold savings account in Singapore 

To invest in a gold savings account in Singapore, you can open one with a bank like UOB, which offers this convenient way of owning gold without the need for physical storage. Through the GSA, you can purchase and sell gold at any time, with your gold holdings managed digitally. In addition to UOB, other platforms like DBS Gold Linked Notes (GLNs) and gold trading apps like Troy Gold and Everest Gold also provide easy ways to invest in gold. These alternatives allow for more flexibility and lower capital requirements.

Pros and cons of having gold savings account in Singapore

Besides the ways listed above, there are also other gold-related products such as Gold Linked Notes (GLNs) offered by DBS, Troy Gold and Everest Gold. They allow you to trade gold with little capital required.

Before jumping on the bandwagon, be sure to assess your own portfolio, current market conditions as well as your risk appetite before making your investment decision.

UOB makes it easy for you to shop for different types of gold products online or in person.

The UOB Gold Savings Account lets you buy and sell gold conveniently with the option of converting your holdings into physical gold. Here are the steps to follow: 

• Open your Gold Savings Account at a UOB branch 

• Buy gold conveniently through UOB Personal Internet Banking (click on ‘Investments’ then ‘Gold and Silver’) or UOB TMRW app (click on ‘Services’ then ‘Buy Gold/Silver’)

• Available from Mondays to Fridays, 8am to 11pm, excluding Singapore public holidays

Existing UOB Personal Internet Banking users can buy gold bars and gold bullion coins online at their convenience. Do collect the gold piece(s) in person at UOB Main Branch within five working days from 9.30am to 4.30 pm to avoid late collection charges. 

You don’t need to have a UOB account to buy gold bars and gold bullion coins. You can purchase these gold items at the UOB Main Branch from 9.30am to 4.30 pm, Mondays to Fridays excluding public holidays.

You can purchase gold certificates at the Gold Counter of UOB Main Branch from 9.30am to 4.30 pm, Mondays to Fridays excluding public holidays. 

In case you’re wondering, the gold certificates are sold in multiples of one kilobar of 999.9 fineness. Each gold certificate is subject to a maximum of 30 kilograms.

UOB lists its gold and silver prices in SGD on its website to make things easy for customers and investors. You can also access the gold and silver price chart via UOB Personal Internet Banking or UOB TMRW app anytime, anywhere.

While the gold and silver price chart is updated daily, take note that the gold and silver prices shown are subject to change without prior notice and may be different at the time of actual transaction.

Source: UOB

The UOB gold price chart is useful for when you want a quick glance at the prices to decide if you would like to trade. 

For instance, the minimum quantity per transaction with a Gold Savings Account is five grams of gold. UOB’s gold price chart gives you an indicative price at which the bank is buying or selling one gram of gold that day.  

If you’ve struck the lottery or gotten a fat bonus and are interested in getting some gold bars, UOB’s gold price chart shows you how much these gold bars may cost on that day — and there are plenty to choose from.

Earn higher interest rates on your savings with the Citi Interest Booster Account when you sign up for a Citi Plus Account, to fund your next high-tea treat!

Before diving into gold investment in Singapore, it's essential to determine your investment goals. Are you seeking a safe haven asset for wealth preservation, portfolio diversification, or a hedge against inflation? Understanding your purpose helps you decide whether to buy physical gold, such as gold bars, or explore options like gold ETFs and gold savings accounts, which cater to specific investment needs.

When exploring how to invest in gold in Singapore, familiarise yourself with the variety of gold investment options available. Physical gold, such as gold bars and bullion coins, appeals to long-term investors due to its intrinsic value. Alternatively, gold ETFs, gold stocks, and gold certificates offer digital or paper-backed solutions for more accessible trading.

Liquidity is a critical factor when buying gold for investment. While physical gold offers long-term value, selling it can take time and may involve additional costs. In contrast, gold ETFs, gold stocks, and gold savings accounts provide easier buying and selling on exchanges or platforms, making them more suitable for those who may need access to their investments quickly. Choosing the right type of investment depends on how accessible you need your funds to be.

Regulations and taxes can impact your gold investment strategy. In Singapore, investment-grade gold, such as bars and coins with a purity of at least 99.5%, is exempt from GST, making it an attractive option. However, products like gold certificates and gold savings accounts may incur service fees or GST. When learning how to invest in gold in Singapore, ensure the product complies with regulatory standards and suits your financial goals.

There are many ways you can go about investing in gold, apart from purchasing gold bars, bullion coins, gold certificates, gold jewellery, gold ETF and gold stocks. 

For those looking to start small, platforms like Hugo Gold Vault enable gold purchases for as little as S$0.01, subject to a nominal fee of 0.5% per transaction. 

There are even more complex gold investment products such as Gold Linked Notes (GLNs), gold options and futures available to sophisticated investors, too. Remember, all investments carry risk. 

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