How to Invest in Gold Singapore

How to invest in gold in Singapore covers the main methods available to Singapore investors: gold ETFs (like SPDR Gold Shares GLD), physical gold via UOB/banks, gold savings accounts, SGX-listed gold certificates, and gold accumulation plans — each with different cost, liquidity, and purity trade-offs.

This page is for informational purposes only and does not constitute financial advice. Always do your own research or consult a licensed financial adviser before investing.

Table of Contents

Why Invest in Gold?

Gold is a traditional safe-haven asset — in times of uncertainty (geopolitical conflict, inflation spikes, currency crises), gold typically outperforms equities. In 2026, gold has surged to approximately USD 3,300–3,400/oz (up from USD 1,800/oz in 2022) driven by Iran-Strait of Hormuz uncertainty, central bank buying, and USD weakness concerns.

For Singapore investors, gold serves several purposes: portfolio diversification (low correlation to SGX stocks and S-REITs), inflation hedge, and a store of value in SGD terms. However, gold produces no income (no dividends, no coupons) — its return is purely price appreciation.

Gold ETFs in Singapore

The most convenient, cost-effective way for Singapore investors to access gold is via gold ETFs traded on SGX or accessible via IBKR/FSMOne:

• SPDR Gold Shares (GLD, NYSE Arca): The world’s largest gold ETF. TER 0.40% p.a. Tracks physical gold. Available via IBKR, Saxo, Tiger, moomoo. US-domiciled — subject to 30% WHT on dividends (no dividends for GLD) and US estate tax on US-situs holdings. Consider using GLD via SRS for tax deferral.
• iShares Physical Gold ETC (SGLN, LSE): Ireland-domiciled, avoids US estate tax exposure. TER 0.12% p.a. — cheaper than GLD. Available via IBKR with LSE access. Best for large gold allocations.
• Lion-OCBC Securities Gold ETF (O87, SGX): SGX-listed gold ETF in SGD. TER approximately 0.25% p.a. Backed by physical gold. Accessible via any SGX broker. CPFIS and SRS compatible.

ETF gold is the most liquid and cost-efficient option. No storage fees, no assay costs, no physical handling.

Physical Gold in Singapore

Singapore investors can buy physical gold (bars and coins) via UOB, the Singapore Mint, and reputable dealers like BullionStar. Singapore has no GST on investment-grade gold (99.5%+ purity bars and coins) — this is a significant advantage over many other countries.

Options:

• UOB Gold Bar: Available in 5g, 10g, 20g, 50g, 100g, 1kg. UOB buy-back program available. No GST on investment gold.
• Singapore Mint coins: Legal tender coins (e.g. Singapore Merlion coins). Collectible premium may apply.
• BullionStar: Online precious metals dealer, physical vault storage option available, SGD pricing, competitive premiums.

Physical gold requires secure storage — either home safe or paid vault storage (~0.5–1.5% p.a. of value). Factor storage costs into your return calculations.

UOB Gold Savings Account

UOB’s Gold Savings Account allows investors to buy gold in grams without taking physical delivery. The account tracks gold price in SGD per gram. Key features:

• Minimum purchase: 1 gram
• No physical delivery (unless you request bars/coins with a minimum of 10g)
• No storage fee (UOB absorbs storage costs)
• Spread between buy and sell price (approximately 0.5–1.5%)
• Not CPFIS-eligible; not insured by SDIC

The Gold Savings Account is convenient for dollar-cost averaging small amounts into gold monthly. OCBC also offers a similar product. Compare to the Lion-OCBC SGX ETF for larger amounts — the ETF typically has lower total costs for holdings above S$5,000–10,000.

Gold Allocation and Portfolio Strategy

Most Singapore financial planners suggest a gold allocation of 5–10% of a diversified portfolio for hedging purposes. At current gold prices (~USD 3,350/oz ≈ SGD 4,500/oz), gold has had a strong run — some analysts see fair value at USD 2,500–2,800/oz.

A practical Singapore investor gold strategy:

• 5–10% of portfolio in gold for diversification/inflation hedge
• Use Lion-OCBC SGX ETF for SGD-denominated, SGX-accessible, CPFIS-eligible gold exposure
• Use iShares SGLN (LSE) via IBKR for larger allocations (lower TER, no US estate tax)
• DCA monthly via UOB Gold Savings Account for very small amounts

Gold should complement — not replace — income-generating assets like S-REITs and dividend stocks. Use our Retirement Planning Calculator to model how a gold allocation affects your overall portfolio return and income.

Frequently Asked Questions

© The Kopi Notes · Singapore Investing Glossary · All figures as at Q2 2026. Not financial advice.