Gold Price Today in Singapore - Live 22K & 24K Rates (October 2025)

The gold price today in Singapore benefits from the city-state's unique status as a tax-free gold trading hub in Southeast Asia. As of October 22, 2025, the current 24 karat gold price stands at S$172.78 per gram (S$6,113 per troy ounce), with 22 karat gold at S$172.78 per gram (S$5,602 per ounce) and 18 karat gold at S$158.38 per gram (S$4,585 per ounce). These rates are based on the international LBMA (London Bullion Market Association) spot price converted to Singapore Dollars (SGD) at the prevailing exchange rate.

Singapore's gold market enjoys a critical advantage: zero GST (Goods and Services Tax) on investment-grade gold>, a policy implemented in October 2025 to position the nation as a premier Asian gold trading hub. This exemption applies to gold bars and coins with minimum 99.5% purity, making Singapore one of the most cost-effective markets for gold investment in Asia. However, gold jewelry remains subject to 9% GST, creating a clear distinction between investment and ornamental gold.

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Current Gold Prices in Singapore by Karat (October 2025)

Gold prices in Singapore are quoted in Singapore Dollars (SGD or S$) per gram and per troy ounce. The troy ounce (31.1035 grams) is the international standard for precious metals. Here are today's live gold rates across all three major purities:

Understanding Karat Notation in Singapore: The Singapore gold market uses the millesimal fineness system alongside karat terminology. 999 gold (24K) represents 99.9% purity, the standard for investment bars and bullion coins. 916 gold (22K) contains 91.6% pure gold, commonly used in Indian and Malay jewelry sold in Little India and Geylang Serai. 750 gold (18K) at 75% purity is the Western standard for fine jewelry, popular in Chinatown and Orchard Road boutiques. The fineness number (999, 916, 750) directly represents parts per thousand of pure gold.

Singapore's 0% GST on Investment Gold - A Game Changer

Singapore's decision to exempt GST on investment-grade gold in 2012 transformed the city-state into a regional gold trading powerhouse, competing directly with Hong Kong and Dubai. This policy creates significant savings for investors:

What Qualifies for 0% GST:

• Gold Bars: Minimum 995 fineness (99.5% pure) from LBMA-approved refiners
• Gold Coins: Minimum 995 fineness, including Singapore Mint coins, Canadian Maple Leafs, Australian Kangaroos
• Gold Granules: 995 fineness or higher for industrial use
• Allocated Gold: Specific gold bars stored in vaults with individual ownership

What Attracts 9% GST:

• Gold Jewelry: All ornamental gold regardless of purity (916, 750, etc.)
• Gold Below 995 Fineness: Lower purity investment bars (not common)
• Numismatic Coins: Collectible coins valued above gold content
• Gold Certificates: Paper claims to gold (not physical)

Example Cost Comparison:

This 9% saving makes Singapore highly competitive for regional investors, particularly those from neighboring Malaysia, Indonesia, and Thailand where gold faces import duties or higher taxes.

Gold Price by Weight in Singapore

Singapore gold dealers typically quote prices in grams, with popular weights matching international standards and Asian preferences. Here's a comprehensive breakdown of gold prices across common weight denominations:

Popular Gold Bar Sizes in Singapore: The 100-gram gold bar is the most popular size among Singaporean investors, offering substantial value (S$19,660 for 999 gold) while remaining affordable for middle-class savers. 1 kilogram bars (S$196,600) are preferred by high-net-worth individuals and institutions seeking maximum value with minimal premiums (typically 1-2% over spot). The 10-gram "biscuit" (S$1,966) serves as an entry point for new investors. International investors often purchase 1 oz bars (S$6,113) for global portability and recognition.

Where to Buy Gold in Singapore

1. Major Banks - UOB, OCBC, Maybank Gold Savings Accounts

United Overseas Bank (UOB) Gold Savings Account is Singapore's most popular gold accumulation program, allowing investors to buy gold in any SGD amount (from S$1 upward) without physical delivery hassles. Gold is stored in UOB's vaults, and investors can convert to physical bars (minimum 100g) or sell back to UOB anytime during banking hours. UOB charges approximately 2-3% spread over spot price for buying and 2-3% below spot when selling.

OCBC Gold Account offers similar functionality with slightly lower minimum purchase amounts and competitive spreads. Both programs are 0% GST-exempt as they deal in investment-grade gold (999 purity).

Maybank Gold Investment Account (GIA) caters primarily to Muslim investors seeking Shariah-compliant gold investments, with gold stored in allocated accounts backed by physical metal.

2. Bullion Dealers - Physical Gold Purchase

The Singapore Mint (Official Government Mint) produces 999.9 fine gold bars and Singapore Lion coins, available directly through their showroom at 249 Jalan Boon Lay or online. Premiums typically run 3-5% over spot for bars, 8-12% for coins due to minting costs.

UOB Bullion & Futures Limited operates retail counters at UOB main branches (Raffles Place, Chinatown Point) selling gold bars from 1g to 1kg with LBMA certification. Same-day purchase available with immediate delivery.

GoldSilver Central (online dealer) offers competitive pricing on PAMP Suisse, Credit Suisse, and Argor-Heraeus bars with island-wide delivery. Popular among younger investors for user-friendly platform and educational resources.

Bullion Star (formerly Silver Bullion) operates a showroom in Pandan Loop industrial area, specializing in allocated storage programs where investors own specific bars (serial numbers recorded) stored in high-security vaults. Offers international delivery to 50+ countries.

3. Chinatown Gold Shops - Traditional Retail Market

Chinatown Complex and surrounding streets (Pagoda Street, Temple Street, Smith Street) house dozens of traditional gold shops selling 999, 916, and 750 gold jewelry alongside investment bars. Popular shops include Poh Heng Jewellery, SK Jewellery, and MoneyMax. These retailers cater primarily to ethnic Chinese customers seeking traditional designs, but also stock investment bars.

Chinatown gold shops typically charge 4-6% premiums on investment bars due to retail overhead and 9% GST on all jewelry purchases. However, they offer advantages: immediate delivery, ability to negotiate on larger purchases, and buyback guarantees (usually 95-98% of current spot for 999 gold).

4. Little India Gold Jewelers - Indian Market

Serangoon Road (Little India) features numerous Indian jewelers specializing in 916 gold jewelry popular among Singapore's Indian community. Major retailers include Mustafa Centre (24-hour jewelry department), Joyalukkas, Kalyan Jewellers, and GRT Jewellers. These shops focus on bridal sets, temple jewelry, and traditional designs with intricate craftsmanship.

Making charges at Little India shops range from S$8-15 per gram for simple designs to S$25-40 per gram for complex temple jewelry. All jewelry purchases incur 9% GST. Some retailers offer exchange programs where old jewelry can be traded for new pieces at current gold rates minus small deductions.

5. Orchard Road Luxury Retailers

High-end jewelry boutiques along Orchard Road (Tiffany & Co., Cartier, Bulgari, etc.) sell primarily 18K gold jewelry at significant premiums (200-500% over gold content) due to brand value and design. These purchases appeal to luxury buyers rather than gold investors.

Understanding Singapore's Multicultural Gold Market

Singapore's unique ethnic composition creates three distinct gold sub-markets:

Chinese Market (74% of population):

• Preference: 999 gold (24K) for investment, 916 gold for traditional jewelry
• Peak Demand: Chinese New Year (January-February), wedding seasons
• Popular Items: Dragon/Phoenix pendants, red packet charms, zodiac coins
• Buying Habits: Favor branded chains (Poh Heng, SK Jewellery), trust government mint

Indian Market (9% of population):

• Preference: 916 gold (22K) exclusively for jewelry (cultural tradition)
• Peak Demand: Deepavali (October-November), wedding seasons (November-February)
• Popular Items: Temple jewelry, bridal sets, bangles, necklaces (traditional designs)
• Buying Habits: Loyal to Indian jewelers, negotiate making charges, value craftsmanship

Malay Market (13% of population):

• Preference: 916 gold for jewelry, increasing interest in 999 investment bars
• Peak Demand: Hari Raya (April-May), Malay weddings year-round
• Popular Items: Pendant necklaces, bangles (simpler designs than Indian)
• Buying Habits: Prefer Geylang Serai shops, seek Shariah-compliant investment products (Maybank GIA)

Gold Investment Options in Singapore

1. Physical Gold Bars and Coins

Advantages: True ownership, 0% GST, no counterparty risk, crisis protection, privacy (cash purchases below S$20,000), tangible asset

Disadvantages: Storage and insurance costs (S$100-300/year for safe deposit box), security risks if stored at home, lower liquidity than bank accounts, requires physical visit to sell

Best For: Long-term investors (5+ years), those seeking crisis protection, high-net-worth individuals with home safes or vault access

2. UOB/OCBC Gold Savings Accounts

Advantages: Fractional gold ownership (start from S$1), bank vault storage, 0% GST, instant liquidity during banking hours, no physical handling, professional-grade security

Disadvantages: 2-3% buy/sell spreads, banking hours restriction, counterparty risk (bank dependency), annual fees for physical conversion (if applicable), cannot be used as collateral easily

Best For: Regular savers using dollar-cost averaging, investors wanting liquidity, those without storage solutions, white-collar professionals

3. Gold ETFs (Listed on SGX)

The SPDR Gold MiniShares Trust trades on Singapore Exchange (SGX code: SGOL) with annual expense ratio of 0.17%, one of the cheapest gold ETFs globally. Each share represents approximately 1/10th troy ounce of gold stored in London vaults.

Advantages: Extremely low fees (0.17% annually), high liquidity (trade like stocks), no storage hassles, CPF Investment Scheme eligible, can hold in SRS accounts for tax benefits

Disadvantages: Paper gold (no physical delivery), counterparty risk, 7% tax on ETF gains when withdrawn from SRS, subject to market hours

Best For: Investors seeking lowest-cost gold exposure, those using CPF-IS or SRS for retirement, traders wanting intraday liquidity

4. Gold Accumulation Programs (Monthly Purchase Plans)

Several Singapore dealers offer monthly gold accumulation programs where investors commit to fixed monthly purchases (e.g., S$200/month) automatically debited from bank accounts. Gold accumulates in allocated accounts, convertible to physical bars at any time.

Bullion Star's Monthly Savings Plan: Minimum S$100/month, choice of bars or coins, stored in allocated vaults, 0% GST, typical spread 3-4%

GoldSilver Central's iSave Plan: Similar concept with lower minimum (S$50/month), online dashboard tracking, flexible withdrawal

Best For: Young professionals building wealth systematically, risk-averse investors using dollar-cost averaging, those lacking lump sum capital

Calculating Gold Jewelry Purchase Cost in Singapore

Gold jewelry pricing in Singapore includes gold content cost, making charges, gemstones (if applicable), and 9% GST on the total. Here's the formula:

Gold Jewelry Cost Formula:

Total Cost = [(Gold Weight × Purity × Gold Rate) + Making Charges + Gemstone Cost] × 1.09 (GST)

Example Calculation - 916 Gold Bangle (20 grams):

Making Charges in Singapore by Shop Type:

• Chinatown Shops: S$8-12 per gram (simple designs), S$15-20/g (intricate)
• Little India Jewelers: S$10-15 per gram (standard), S$25-40/g (temple jewelry)
• Chain Retailers (Poh Heng, SK): S$12-18 per gram (branded pricing)
• Orchard Road Luxury: 200-500% premium over gold content (brand value)

GST Impact Example: A S$4,000 jewelry purchase (pre-GST) incurs S$360 in GST, bringing the total to S$4,360. This 9% cost is why serious investors stick to GST-exempt 999 bars for wealth preservation.

Selling Gold in Singapore - Buyback Rates

Singapore's competitive gold market offers favorable buyback rates, particularly for investment-grade 999 gold:

Where to Sell Gold in Singapore:

UOB/OCBC Bank Accounts: Instant buyback at 2-3% below current spot price during banking hours. Best for gold savings account holders—simply sell via internet banking or at branch counters. No hassle, immediate SGD credit to account.

Bullion Dealers (GoldSilver Central, BullionStar): Competitive rates (98-99% for LBMA bars) with same-day payment via bank transfer. Requires physical delivery of gold or selling from allocated storage accounts.

Pawn Shops (licensed): Quick cash but lower rates (85-92% of spot for 999 gold, 70-80% for jewelry). Use only for emergency liquidity—not optimal for planned sales.

Chinatown Gold Shops: Fair rates (90-95% for 916 jewelry from same shop, 85-90% from other shops). Many offer buyback guarantees to original customers at favorable rates.

MoneyMax Pawnshop (Chain): Modern pawn chain with transparent pricing (posted daily rates). Better than traditional pawn shops but lower than dedicated bullion dealers. Good for jewelry.

Factors Affecting Gold Prices in Singapore

1. US Dollar to Singapore Dollar Exchange Rate

Since gold is priced in USD globally, the USD/SGD exchange rate directly impacts Singapore gold prices. When the SGD strengthens against USD (e.g., from 1.35 to 1.30), gold becomes cheaper in Singapore Dollar terms, potentially triggering buying. When SGD weakens (e.g., from 1.35 to 1.40), gold prices rise in SGD, making it more expensive locally but maintaining USD value.

The Monetary Authority of Singapore (MAS) manages the SGD via a basket-based exchange rate policy (not interest rates like most central banks), creating unique dynamics. MAS typically allows gradual SGD appreciation to combat imported inflation, which can moderate gold price increases in Singapore compared to other Asian markets.

2. Regional Demand (China and India)

Singapore sits strategically between the world's two largest gold markets—China and India. Strong demand from these giants during festival seasons (Chinese New Year, Deepavali, Indian wedding season October-February) creates upward pressure on regional gold premiums, affecting Singapore prices. Major Singapore dealers import gold from Switzerland, Australia, and South Africa, then re-export to regional markets, making Singapore a price discovery hub for Southeast Asia.

3. Central Bank Gold Purchases

The Monetary Authority of Singapore holds approximately 127 tonnes of gold reserves (as of 2024), ranking it among the top 20 central banks globally by gold holdings relative to GDP. While MAS doesn't actively trade gold frequently, global central bank buying (particularly from China, India, Poland, Singapore itself) provides fundamental support for gold prices worldwide.

4. Singapore's Safe-Haven Status

During regional crises or geopolitical tensions (South China Sea disputes, North Korea tensions, ASEAN political instability), Singapore experiences safe-haven capital inflows. Some of this capital flows into gold as wealthy Indonesians, Malaysians, and Thais park funds in Singapore's stable political and banking system, boosting local gold demand and premiums.

5. Interest Rates and Inflation

Although MAS doesn't set interest rates traditionally, Singapore's interbank rates (SORA - Singapore Overnight Rate Average) influence opportunity costs of holding gold. High interest rates in fixed deposits (currently 3-4% for 12-month SGD deposits) reduce gold's appeal, while low rates increase it. Singapore's inflation rate (CPI) averaged 5-6% in 2022-2023 but moderated to 2-3% in 2024-2025, affecting gold demand as an inflation hedge.

Gold Storage Options in Singapore

1. Home Storage

Home Safes: Purchase fireproof safes (brands like Chubb, Yale, Master Lock) from hardware stores. Bolt to floor/wall to prevent theft. Insure via home contents insurance (check precious metals coverage limits—many policies cap at S$5,000-10,000).

Pros: Immediate access, no annual fees, complete privacy, crisis accessibility

Cons: Theft risk (Singapore has low crime but not zero), fire/flood risk, insurance limitations, difficult estate planning

2. Bank Safe Deposit Boxes

All major Singapore banks (DBS, UOB, OCBC, Maybank) offer safe deposit boxes at branches:

• Small Box (2" x 5" x 24"): S$80-120/year, suitable for coins and small bars
• Medium Box (5" × 5" × 24"): S$150-200/year, holds up to 500g bars
• Large Box (10" × 10" × 24"): S$250-350/year, can store kilo bars

Pros: Bank vault security, fire protection, affordable annual cost, branch access during banking hours

Cons: Contents NOT insured by bank or SDIC (Singapore Deposit Insurance Corporation), access only during banking hours (9 AM - 5 PM weekdays, half-day Saturdays), potential government access with court order

3. Allocated Storage with Bullion Dealers

BullionStar Storage Program: High-security private vault in Pandan Loop with 24/7 CCTV, biometric access, and full insurance. Fees: 0.6% annually (minimum S$50/year). Gold stored in individual safes with unique access codes. Customers can visit 24/7 by appointment to view/retrieve gold.

GoldSilver Central Storage: Allocated storage in certified vaults with serial numbers recorded. Fees: 0.5% annually. Online dashboard shows real-time holdings. Can sell directly from storage without physical retrieval.

Pros: Full insurance coverage, allocated ownership (not pooled), professional security, 24/7 access (some providers), can sell without retrieval

Cons: Annual fees (0.5-0.6%), reliance on company solvency, slightly less liquid than bank accounts

4. Le Freeport Singapore (Ultra-Secure Vault)

Le Freeport is a purpose-built freeport facility at Changi Airport offering ultra-high-security storage for precious metals, art, and valuables. Used primarily by ultra-high-net-worth individuals, family offices, and institutions storing millions in assets. Features:

• Located within customs-controlled zone (tax advantages for international gold)
• Military-grade security with armed guards
• Climate-controlled vaults
• Full insurance coverage
• Privacy (contents not disclosed to authorities except via court order)
• Annual fees: Varies (minimum S$5,000/year for smallest units)

Best For: Institutional investors, family offices, ultra-HNWIs storing 10+ kilograms of gold or multi-asset portfolios

Using CPF and SRS for Gold Investment

CPF Investment Scheme (CPF-IS):

Singaporeans can use CPF Ordinary Account (OA) savings exceeding S$20,000 to invest in SPDR Gold MiniShares (SGOL) ETF through the CPF Investment Scheme. This allows retirement funds to gain gold exposure while maintaining CPF's 2.5% base interest (up to 4% for first S$60,000).

Advantages: Tax-deferred growth, diversifies CPF beyond property and approved stocks, maintains CPF base interest

Disadvantages: Trading fees apply, can only sell back to CPF-IS (not freely tradable), gold must be in ETF form (not physical), subject to CPF withdrawal age restrictions

Supplementary Retirement Scheme (SRS):

SRS account holders can invest in SPDR Gold MiniShares (SGOL) ETF via SRS funds, gaining tax relief on contributions (up to S$15,300/year for Singaporeans) and tax-deferred growth. Upon retirement (age 62+), only 50% of withdrawals are taxable.

Example:** Contribute S$15,300 to SRS (saves S$3,060 tax at 20% bracket), invest in gold ETF, grow tax-free for 20 years, withdraw at retirement with only 50% taxable. Effective tax rate potentially 5-10% on gains versus 20%+ if invested outside SRS.

Singapore Mint Gold Products

The Singapore Mint (a government entity) produces several investment-grade gold products:

Singapore Lion Gold Coins:

• 1 oz Lion Coin: 999.9 fine gold, featuring Singapore's Merlion, legal tender S$100, typical premium 8-10% over spot
• 1/4 oz and 1/10 oz Lions: Fractional sizes for smaller investors
• Lunar Series Coins: Annual zodiac-themed coins (Year of Dragon 2024, Year of Snake 2025) with collectible premiums 15-25% over gold content

Singapore Gold Bars:

• Sizes: 1g, 5g, 10g, 20g, 50g, 100g, 1kg
• Fineness: 999.9 (24K)
• Features: Serial numbers, Singapore Mint logo, purity stamped, comes with tamper-evident packaging
• Premiums: 3-5% for larger bars (100g-1kg), 6-8% for small bars (1-20g)

Singapore Mint products carry government backing and high recognition, making them easier to resell domestically compared to foreign bars. However, international recognition is lower than PAMP Suisse or Credit Suisse bars.

Gold Import and Export Regulations

Importing Gold into Singapore:

Singapore imposes zero import duty on gold bullion and jewelry, making it a free port for gold. However, importers must:

• Declare all gold imports to Singapore Customs (regardless of value)
• Pay 9% GST on gold jewelry at the point of import (investment gold exempt)
• Obtain import permits for commercial quantities (individual travelers can carry reasonable personal amounts)
• Declare cash amounts exceeding S$20,000 when entering Singapore (anti-money laundering)

Travelers bringing personal gold: Can carry reasonable amounts (typically up to 1kg jewelry for personal use) without permits. Declare to customs to avoid penalties. Investment gold bars should be declared and may require documentation proving non-commercial purpose.

Exporting Gold from Singapore:

Exporting gold from Singapore is similarly unrestricted, but exporters must:

• Declare gold exports to Singapore Customs
• Obtain export permits for commercial shipments
• Check destination country's import duties and regulations (many countries impose duties—Malaysia 5%, India 12.5%, China 13%)
• Declare cash/gold exceeding S$20,000 equivalent when leaving Singapore

Pro Tip for Travelers: Keep purchase invoices when buying gold in Singapore. Destination customs may require proof of where gold was purchased to assess duties correctly. Some countries offer duty exemptions for gold purchased abroad and declared properly.

Tax Treatment of Gold Investment in Singapore

Capital Gains Tax:

Singapore has NO capital gains tax, making gold investment extremely tax-efficient. Whether you buy 999 gold bars at S$180/gram and sell at S$250/gram years later, the S$70/gram profit is 100% tax-free in Singapore. This applies to both residents and non-residents.

GST Summary:

• Investment Gold (995+ fineness): 0% GST on purchase and sale
• Gold Jewelry: 9% GST on purchase, no GST on sale (second-hand goods exempt)
• Gold ETFs: No GST on purchase/sale (financial instruments exempt)

Income Tax Considerations:

Gold investment profits are NOT subject to income tax in Singapore unless you're engaged in the business of gold trading (buying and selling frequently for profit). Casual investors holding gold for years pay zero tax on gains. Professional traders or gold dealers must declare gold trading profits as business income.

Estate Duty: Singapore abolished estate duty in 2008, so gold holdings are NOT subject to inheritance taxes when passed to heirs. This makes gold an excellent estate planning tool for wealthy Singaporeans seeking tax-free wealth transfer.

Best Time to Buy Gold in Singapore

Seasonal Patterns:

Post-Chinese New Year (March-April): Demand typically softens after CNY buying peaks, creating potential buying opportunities as retailers reduce premiums to move inventory.

Mid-Year Lull (May-July): Global jewelry demand falls during summer in major markets (US, Europe), often leading to price consolidation or dips. Singapore dealers may offer promotions to stimulate sales.

Pre-Deepavali (September-October): Gold prices often firm up as Indian community increases purchases for Deepavali celebrations (October-November). Buy before the rush if planning purchases.

Pre-Chinese New Year (December-January): Similar pattern—prices typically rise as Chinese community buys gold gifts, zodiac charms, and jewelry. Better to buy November-December before premiums expand.

Currency Timing:

Monitor the USD/SGD exchange rate. When SGD strengthens (USD/SGD drops from 1.38 to 1.32, for example), gold becomes cheaper in Singapore Dollar terms even if USD gold prices are flat. Conversely, if SGD weakens, wait if possible or accept higher SGD prices.

Dollar-Cost Averaging (DCA):

Rather than timing the market, many Singapore investors use monthly accumulation programs (UOB Gold Account, BullionStar Monthly Savings) to invest fixed amounts (S$200, S$500, S$1,000) monthly regardless of price. This averages out volatility over time and removes emotional decision-making.

Comparing Gold to Other Singapore Investments

Gold's Role in Singapore Portfolios: Financial advisors typically recommend 5-10% gold allocation> for Singaporean investors as portfolio insurance and inflation hedge. Gold exhibits low correlation with Singapore stocks (STI) and property, providing diversification benefits during market downturns (e.g., COVID-19 crash in October 2025 saw gold rally while STI fell 30%).

Future Outlook for Gold Prices in Singapore (2025-2026)

Factors Supporting Higher Gold Prices:

MAS Monetary Policy: If global inflation pressures return or regional economic slowdown occurs, MAS may allow SGD depreciation to support exports, which would increase gold prices in Singapore Dollar terms.

US Federal Reserve Rate Cuts: Expected Fed rate cuts in 2025-2026 (if US enters recession) would weaken USD and boost gold prices globally, benefiting Singapore investors even if SGD appreciates.

Central Bank Buying: Continued strong demand from central banks (especially Asian central banks including MAS) provides fundamental support for gold prices.

Geopolitical Tensions: South China Sea disputes, Taiwan tensions, North Korea issues create regional safe-haven demand favoring Singapore's gold market.

Factors That Could Pressure Gold Prices:

Strong SGD: If Singapore's economy significantly outperforms regional peers, SGD could strengthen substantially (USD/SGD falling from 1.35 to 1.25), making gold cheaper in Singapore even if USD prices are stable or rising.

High Interest Rates: If global interest rates remain elevated (4-5% range), opportunity cost of holding non-yielding gold increases, potentially capping prices.

Risk-On Sentiment: Strong global equity markets (S&P 500, STI rallies) reduce safe-haven demand for gold, potentially limiting upside.

Analyst Consensus: Major Singapore banks (DBS, UOB, OCBC) maintain constructive outlooks for gold, with 12-month SGD price targets ranging from S$200-220 per gram (999 gold), implying 2-12% upside from current S$172.78 levels.

Conclusion: Is Gold a Good Investment for Singaporeans in 2025?

Gold's unique position in Singapore—0% GST on investment bars, no capital gains tax, strong rule of law, and strategic Asian location—makes the city-state one of the world's most attractive markets for gold investment. At S$172.78 per gram for 999 gold> as of October 2025, Singapore investors have multiple pathways to gold ownership:

• Physical Bars: Best for long-term wealth preservation and crisis insurance
• Bank Gold Accounts: Ideal for regular savers using dollar-cost averaging
• Gold ETFs: Optimal for low-cost exposure with maximum liquidity
• Gold Jewelry: Cultural significance but less efficient due to 9% GST and making charges

For Singaporean investors, gold serves as:

• Inflation Hedge: Preserves purchasing power during periods of high CPI
• Currency Diversification: Reduces SGD concentration risk
• Portfolio Stabilizer: Low correlation with stocks and property
• Regional Safe Haven: Protection against ASEAN political/economic instability
• Tax-Efficient Wealth: Zero capital gains tax, no GST on investment gold, no estate duty

Whether you choose to accumulate gold through UOB's convenient savings account, purchase physical bars from Singapore Mint, or invest via SPDR Gold MiniShares ETF in your SRS account, Singapore offers world-class infrastructure, competitive pricing, and favorable tax treatment. Combined with the nation's political stability, strong rule of law, and strategic Asian location, Singapore stands as a premier gold investment destination for 2025 and beyond.

Start small, invest regularly, and let Singapore's 0% GST advantage work in your favor. Gold isn't just an investment—it's insurance for uncertain times and a time-tested store of value across generations.