Singapore’s gold market demonstrates remarkable resilience in 2025, with prices projected to reach $3,000-$3,400 per ounce. The nation’s world-class infrastructure, including Changi’s Free Port and advanced storage facilties, continues attracting investors across Asia-Pacific. A 2.7% surge in ETF holdings, coupled with growing physical demand from China and high-net-worth individuals, reinforces Singapore’s position as a premier gold trading hub. The market’s trajectory reveals compelling opportunities beneath the surface.
Singapore’s position as a premier gold trading hub continues to strengthen in 2025, with analysts forecasting bullish price movements between $3,000 and $3,400 per ounce during the second and third quarters. State Street Global Advisors has adjusted their base-case outlook to reflect this optimistic trajectory, while gold ETF holdings achieved their highest growth in three years, marking a substantial 2.7% increase in March 2025. Additionally, the live gold prices in Singapore have shown remarkable resilience amid global market fluctuations. This increasing demand for gold is also supported by growing investment behaviors among Asian investors seeking stability.
Gold prices soar in Singapore’s thriving market, with experts predicting levels of $3,000-$3,400 per ounce amid record ETF growth.
The nation’s appeal as a gold trading destination stems from its unparalleled economic and political stability, complemented by world-class infrastructure including the prestigious Free Port at Changi Airport and advanced storage facilities like Silver Bullion’s Reserve. These advantages, coupled with Singapore’s strategic geographical position, have attracted companies seeking to tap into Asia Pacific markets while avoiding restrictive capital controls. Furthermore, the integration of sustainable practices in gold trading enhances Singapore’s reputation as a responsible trading hub.
Physical demand for gold has witnessed impressive growth, driven by both retail and institutional investors from China and the broader Asia Pacific region. High-net-worth individuals increasingly view Singapore as their preferred destination for wealth preservation through gold allocation, contributing to the surge in demand for storage facilities. The expanding bullion operations reflect this growing confidence in Singapore’s gold ecosystem.
The global gold supply outlook appears promising, with projections indicating a 2% increase to reach an unprecedented 133 million ounces. This growth is supported by new mining projects and enhanced scrap gold supply, although potential disruptions from political, environmental, or technical challenges could impact these forecasts. The current price rally has significantly reduced reluctance in scrap gold sales, further supporting supply growth.
ETF investments have emerged as a vital driver of gold’s price performance in 2025, with three consecutive months of positive flows recorded by March. Singapore-based funds have particularly benefitted from the country’s sophisticated gold infrastructure and favourable tax environment. Investors increasingly turn to gold ETFs as a hedge against equity market volatility and growing economic uncertainties.
The broader macroeconomic landscape continues to influence Singapore’s gold market dynamics, with U.S. monetary policy uncertainty and geopolitical tensions enhancing gold’s appeal as a safe-haven asset. Despite the possibility of a 5-7% price drawdown due to profit-taking during the current rally, the fundamental drivers supporting gold’s strong performance remain intact. Additionally, the latest gold prices in Brazil showcase how different markets react to global trends, further emphasizing the interconnectedness of the gold trading ecosystem.
Singapore’s role as a trusted gold trading hub appears set to expand further, backed by its robust regulatory framework, world-class infrastructure, and growing institutional interest in precious metals investment. This thorough market environment positions Singapore as an increasingly important player in the global gold trade, offering investors a secure and sophisticated platform for their gold-related activities while maintaining its reputation as a leading financial centre in the Asia Pacific region.
Frequently Asked Questions
How Does Singapore’s Gold Tax System Compare to Other Asian Countries?
Singapore’s gold tax system stands out among Asian nations for its Investment Precious Metals (IPM) GST exemption.
While India imposes hefty taxes totalling 18% and Thailand applies a 7% VAT, Singapore’s approach is more favourable to investors.
China’s system mirrors Singapore’s with VAT exemptions for high-purity gold, though other products face steeper rates.
Malaysia follows a similar framework but implements a broader GST structure compared to Singapore’s targeted exemptions.
What Security Measures Do Singapore Gold Storage Facilities Implement?
Singapore’s gold storage facilities employ thorough security measures, including biometric access controls and 24/7 CCTV surveillance.
Facilities feature seismic monitoring to detect unauthorized access attempts, while armed guards provide physical protection.
Advanced fire suppression systems and reinforced construction protect against environmental threats.
Regular independent audits verify asset integrity, and segregated storage ensures client’s gold remains separately accounted for.
All assets are fully insured against theft or damage.
Can Foreigners Buy and Store Gold in Singapore Without Residency?
Yes, foreigners can purchase and store gold in Singapore without residency requirements.
Under the PSPM Act, non-residents may buy investment-grade gold from registered dealers, completely GST-exempt.
They can securely store their holdings in private vault facilities like Silver Bullion or Malca-Amit, which offer thorough storage solutions.
Singapore’s strong property laws protect foreign-owned gold, while the absence of capital controls guarantees unrestricted access to their precious metals.
Which Singapore Banks Offer Gold Trading and Custody Services?
Several major Singapore banks provide extensive gold trading and custody services.
UOB’s Gold Savings Account and OCBC’s Gold Investment Account enable gold trading in non-physical formats.
DBS offers physical gold sales and secure storage through Gold Certificates, while Standard Chartered provides allocated custody services.
Private institutions like JPMorgan Chase and Capital Security Bank deliver specialised precious metal services with secure vaulting facilities in various locations.
What Documentation Is Required for Large Gold Transactions in Singapore?
For large gold transactions in Singapore, customers must present a valid government-issued ID, typically an NRIC for locals or passport for foreigners.
Additional documentation may include proof of address and source of funds. Financial institutions often implement enhanced due diligence measures for significant purchases, requiring bank statements or tax returns.
A driver’s licence can serve as supplementary verification, though it’s not sufficient as primary identification.
