Gold has been on an absolute tear.
As I write this in February 2026, gold is trading at approximately US$5,200 per ounce — up more than 75% from a year ago.
Yes, you read that right. 75% in a year.
You can see the sheer magnitude of the move in the chart below.
I’ve talked about gold before as a hedge against money printing — and boy has that thesis played out.
With gold prices at all time highs, a lot of you have been asking me how exactly you can buy gold in Singapore.
And there’s been a really interesting development — Singapore is about to get its second gold ETF on the SGX, with the LionGlobal Singapore Physical Gold ETF listing on 26 March 2026.
This one vaults the gold locally in Singapore and is insured — which is a genuinely meaningful difference from the existing SPDR Gold Shares ETF.
So I figured this was the perfect time to write a comprehensive how-to guide on the different ways to buy gold in Singapore.
Let’s dive in.
Why buy gold in the first place?
Before we get into the how, let’s quickly address the why.
Long story short — gold is a store of value that has been around for thousands of years.
In the current macro environment where the US is running massive fiscal deficits and the Federal Reserve is keeping monetary policy easy, gold acts as a hedge against money printing.
Gold doesn’t pay a dividend or yield. So you won’t get income from owning gold.
But what gold does give you is a hedge against currency debasement and inflation — which is why you’ve seen gold soar to all time highs.
You can see from the chart below just how well gold has performed relative to other major asset classes in 2025.
Most advisors recommend a 5% to 10% allocation to gold in a diversified portfolio. Whether you agree with that is up to you, but the point is that gold has a place in a well-constructed portfolio.
Now — how do you actually buy gold in Singapore?
5 ways to buy gold in Singapore
There are broadly 5 ways to buy gold in Singapore:
- Physical gold bars and coins — Buy actual gold you can hold
- Gold ETFs — Buy gold exposure through SGX or US exchanges (including the new LionGlobal ETF)
- Gold Savings Accounts — Buy gold through a bank account (UOB, OCBC)
- Gold Certificates — Buy certificates representing physical gold
- Gold Futures / CFDs — Trade gold as a derivative (for active traders only)
Not sure which one is for you? This decision flow might help:
I’ll walk through each option below, with the pros, cons, and practical steps for each.
Important: Gold is GST-exempt in Singapore
Before we go further, one big advantage of buying gold in Singapore — qualifying investment-grade gold is exempt from GST (Goods and Services Tax).
Since October 2012, the import and local supply of Investment Precious Metals (IPM) in Singapore are exempt from GST (currently 9%).
To qualify for GST exemption, the gold must meet all of the following criteria:
- Purity: At least 99.5% pure gold
- Form: Bars, ingots, wafers, or prescribed coins
- Refiner: Refined by an LBMA (London Bullion Market Association) accredited refiner
- Not decorative: Must not be a decorative or collector’s item
This is a huge deal. You can see below just how much you save in GST across different investment amounts.
There’s also no capital gains tax in Singapore — so any profits you make from selling gold are tax-free.
That said, gold jewellery does NOT qualify for GST exemption. So if you’re buying gold purely for investment, stick to bars, coins, or financial products.
Option 1: Physical Gold Bars and Coins
This is the OG way to own gold. You buy actual gold bars or coins that you can hold in your hand.
Where to buy physical gold in Singapore:
| Dealer | Products | Min. Purchase | Key Notes |
| UOB Main Branch | Gold bars (1g to 1kg), coins | Varies by product | Appointment-only from Feb 2026. Must be UOB account holder. |
| BullionStar | Wide range of bars and coins from LBMA refiners | No minimum | Walk-in at 45 New Bridge Rd (near Clarke Quay MRT). Also offers vault storage. |
| Silver Bullion (The Safe House) | Gold bars, coins, storage | SGD 5,000 min. | Known for S.T.A.R. segregated vaulting. Located at Millenia Walk. |
| GoldSilver Central | Bars and coins | Varies | Located at Far East Shopping Centre. |
| Indigo Precious Metals | Bars, coins, gram saving plan | Varies | Offers vault storage at Le Freeport Singapore. |
Important note on UOB: Due to massive demand for physical gold, UOB moved to an appointment-only system for physical gold purchases and conversions from 13 February 2026. Walk-ins are no longer accepted. You need to book an appointment via UOB’s website, and slots open at 6pm the previous working day.
Pros:
- You own the actual gold — no counterparty risk
- GST-exempt for qualifying IPM in Singapore
- Tangible asset you can hold, gift, or pass down
Cons:
- Storage and security — you need a safe or vault
- Higher premiums over spot price compared to ETFs or savings accounts
- Less liquid — selling requires going back to the dealer or bank
- Insurance costs if you want coverage
My view — physical gold makes sense if you want a meaningful allocation and you have secure storage sorted out. For smaller amounts, the other options below may be more practical.
Option 2: Gold ETFs
If you don’t want the hassle of storing physical gold, Gold ETFs are probably the most popular option for investors in Singapore.
A Gold ETF tracks the price of gold, and you buy and sell it on a stock exchange just like you would a stock.
The big news here — Singapore is going from one gold ETF to two on the SGX.
*NEW* LionGlobal Singapore Physical Gold ETF (Listing 26 March 2026)
This is the exciting new entrant. The LionGlobal Singapore Physical Gold ETF is managed by Lion Global Investors (part of the OCBC Group) and will list on SGX on 26 March 2026.
Here are the key details from the fund fact sheet:
- ETF Name: LionGlobal Singapore Physical Gold ETF
- Reference Benchmark: LBMA Gold Price AM
- Issue Price: USD 5.00 per unit — very low entry point
- Initial Offer Period (IOP): 6 March 2026 to 20 March 2026
- Target Listing Date: 26 March 2026
- Base Currency: USD
- Trading Currency: SGD and USD (dual currency)
- SGX Code: GLS (SGD), GLU (USD)
- Bloomberg Ticker: GLS SP (SGD), GLU SP (USD)
- Trading Board Lot Size: 1 unit — same as SPDR
- Management Fee: 0.39% per annum (capped at 2% of NAV)
- Classification Status: Excluded Investment Product (EIP)
What makes this different from SPDR Gold Shares?
Three big differences:
1. Gold is vaulted locally in Singapore. This is the headline differentiator. SPDR Gold Shares stores its gold in vaults in the US, London, and Zurich. LionGlobal stores it right here in Singapore with Standard Chartered as custodian. For investors who want the gold physically closer to home, this is a big deal.
2. The gold is insured. LionGlobal’s fund comes with insurance coverage on the physical gold — Singapore’s first insured physical gold fund. SPDR has standard custodian arrangements but doesn’t market itself as an “insured” gold fund.
3. Very low entry price. At USD 5.00 per unit issue price (roughly S$6.50), the LionGlobal ETF is far more accessible than SPDR Gold Shares which trades at around S$500+ per unit. Yes, SPDR also has a 1-unit board lot — but the per-unit cost difference is massive.
You can see the head-to-head comparison below:
How to subscribe during the Initial Offer Period (IOP):
The IOP runs from 6 March to 20 March 2026. During this window you can subscribe at the issue price of USD 5.00 per unit.
Strategic Partner: OCBC (through OCBC Securities)
ATM, Mobile and Online Banking Subscription: OCBC — subscribe by 19 March 2026, 12pm, with an application fee of SGD 2
Participating Dealers:
- Phillip Securities (POEMS)
- Moomoo
- Tiger Brokers
- FSMOne
- DBS Vickers
- Maybank Securities
- Lim & Tan Securities
After the listing on 26 March 2026, you can buy and sell the ETF on SGX just like any other stock.
CPF/SRS eligibility: Currently pending approval. The fund is working toward CPFIS inclusion but this typically takes time for new funds. If CPF eligibility is important to you, the SPDR Gold Shares (GSD) remains the safer choice for now.
SPDR Gold Shares (the existing SGX gold ETF)
The SPDR Gold Shares has been on SGX since October 2006 and remains the incumbent. It’s available in two denominations:
- GSD — traded in SGD
- O87 — traded in USD
Both track the same underlying pool of physical gold. The SPDR Gold Shares ETF is the largest ETF on SGX with AUM exceeding S$4.2 billion and is backed by about US$185 billion globally.
Key advantage over LionGlobal: SPDR Gold Shares (GSD) is already CPF-OA and SRS eligible under the CPFIS scheme. If you want gold exposure within your CPF or SRS portfolio, this is currently the only game in town.
Full Gold ETF Comparison Table
| ETF | Exchange | Currency | Expense Ratio | Gold Vaulted In | CPF/SRS? |
| LionGlobal Gold (GLS) | SGX | SGD | 0.39% | Singapore | Pending |
| LionGlobal Gold (GLU) | SGX | USD | 0.39% | Singapore | Pending |
| SPDR Gold (GSD) | SGX | SGD | 0.40% | US / London / Zurich | Yes |
| SPDR Gold (O87) | SGX | USD | 0.40% | US / London / Zurich | No |
| SPDR Gold (GLD) | NYSE | USD | 0.40% | US / London | No |
| iShares Gold (IAU) | NYSE | USD | 0.25% | US / London | No |
| SPDR MiniShares (GLDM) | NYSE | USD | 0.10% | US / London | No |
US estate tax consideration: If you buy US-listed gold ETFs like GLD, IAU or GLDM, be aware that as a non-US person, your estate could be subject to US estate tax on holdings above US$60,000. The SGX-listed options (SPDR’s GSD/O87 and LionGlobal’s GLS/GLU) avoid this issue entirely.
How to buy Gold ETFs in Singapore:
- Open a brokerage account — any of the local brokerages work (DBS Vickers, OCBC Securities, Phillip Securities, FSMOne, Tiger Brokers, Moomoo, etc.)
- For US-listed ETFs, use international brokerages like Interactive Brokers, Tiger Brokers, Moomoo, or Saxo
- Search for the ticker (GLS/GLU for LionGlobal, GSD/O87 for SPDR on SGX, GLD/IAU/GLDM for US-listed)
- Place your buy order just like you would for any stock
Pros of Gold ETFs:
- Very liquid — buy and sell during market hours
- No storage or insurance needed
- Low cost (expense ratio of 0.10% to 0.40% p.a.)
- Can use CPF/SRS funds (for SGX-listed SPDR GSD)
- Backed by physical gold in secure vaults
- LionGlobal offers locally-vaulted, insured gold at a very low unit price
Cons of Gold ETFs:
- You don’t own the physical gold directly
- Counterparty risk (though mitigated by the physical backing)
- Annual expense ratio eats into returns over the long term
- US-listed ETFs may have US estate tax implications for non-US persons
Option 3: Gold Savings Accounts (UOB / OCBC)
If you want something between physical gold and ETFs, a Gold Savings Account could be the sweet spot.
Two banks in Singapore currently offer precious metals accounts:
| Feature | UOB Gold Savings Account | OCBC Precious Metals Account | Notes |
| Min. Purchase | 5 grams | 0.01 troy ounce (~S$65) | OCBC has a much lower entry point |
| Annual Fee | 0.25% p.a. (min. 0.12g/month) | Bank fees and spreads apply | Fees deducted in gold, not cash |
| Online Transacting | Yes — UOB Internet Banking / TMRW app | Yes — OCBC Digital app | Both are convenient |
| Convert to Physical | Yes — 100g bars (appt only from Feb 2026) | No | UOB has an edge here |
| Currency | SGD | SGD, USD, AUD, EUR and more | OCBC offers multi-currency |
| SDIC Covered? | No | No | Important to note |
How to open a UOB Gold Savings Account:
- You need an existing UOB savings or current account
- Visit any UOB branch to open the Gold Savings Account (in person only)
- Minimum first purchase is 5 grams of gold
- After setup, buy and sell via UOB Internet Banking (Investments > Gold and Silver) or UOB TMRW app (Services > Buy Gold/Silver)
- Online transacting available Mon-Fri, 8am to 11pm (excluding SG public holidays)
Pros:
- Very convenient — buy and sell online via app
- No storage or security concerns
- Lower premiums than physical gold purchases
- UOB offers conversion to physical gold bars
Cons:
- Not covered by Singapore Deposit Insurance (SDIC)
- Annual service fees and spreads reduce returns
- You don’t own the physical gold (it’s a book entry)
- Cannot use CPF or SRS funds
Option 4: Gold Certificates (UOB)
UOB also offers Gold Certificates, which represent physical gold stored at UOB.
You purchase in kilobar quantities (each certificate represents 1 to 30 kilobars of gold).
At current prices of about S$225 per gram, a 1kg gold bar runs roughly S$225,000 — so this is clearly for larger investors.
The gold is stored by UOB, so you don’t need to worry about storage. You receive a certificate as proof of ownership, which can be redeemed for physical gold or sold back to UOB.
Option 5: Gold Futures and CFDs (For Active Traders)
This is the more advanced option, and I’d say this is only for experienced active traders.
You can trade gold futures on the SGX or through CFD platforms like IG Markets, CMC Markets, Plus500, or Saxo Markets.
Futures and CFDs allow you to use leverage — meaning you can control a larger gold position with a smaller amount of capital. But leverage cuts both ways.
For the record — this option exists if you want it, but do be cautious regarding the risks.
How do the costs compare?
One of the most important things when buying gold is understanding the fees.
Here’s a visual comparison of the indicative annual cost on a S$10,000 gold investment:
As you can see, the US-listed GLDM is the cheapest option from a pure fee perspective. The new LionGlobal ETF comes in at 0.39% — slightly cheaper than SPDR’s 0.40%. The difference is marginal, but every basis point counts over the long term.
But of course, fees aren’t everything. Tangibility, convenience, CPF eligibility, vaulting location, and counterparty risk all matter too.
Summary: Which option is right for you?
Here’s a quick summary table:
| Option | Min. Investment | Fees | Storage? | CPF/SRS? | Best For |
| Physical Gold | ~S$225+ (1g bar) | Premium over spot | You arrange | No | Long-term holders wanting tangible gold |
| LionGlobal ETF (NEW) | ~S$6.50 (1 unit) | 0.39% p.a. | No (SG vaulted) | Pending | SG-vaulted gold; low entry price; new investors |
| SPDR Gold (SGX) | ~S$500+ (1 unit) | 0.40% p.a. | No | Yes | CPF/SRS investors; proven track record |
| Gold ETF (US) | ~US$50+ (GLDM) | 0.10-0.40% | No | No | Cost-conscious investors |
| Gold Savings A/C | 5g (UOB) / 0.01oz (OCBC) | 0.25% + spreads | No | No | Beginners; small purchases |
| Futures/CFDs | Varies (margin) | Spreads + overnight | No | No | Active traders only |
My view on how to buy gold in Singapore?
So after all of the above — what do I think?
My simple view.
For most Singapore investors, the SPDR Gold Shares ETF on SGX (GSD) is currently the safest all-round option. It’s liquid, it’s backed by physical gold, and eligible for CPF and SRS funds. It has almost 20 years of track record on the SGX.
That said — the new LionGlobal Singapore Physical Gold ETF (GLS/GLU) is very interesting.
There are three things I really like about it:
1. Gold vaulted locally in Singapore. For investors who want the peace of mind that their gold is stored right here in Singapore rather than in a vault somewhere in the US or London, this is a genuine differentiator. Singapore is a politically stable, well-regulated jurisdiction — and having the gold here just feels different.
2. Insured gold. The fact that this is Singapore’s first insured physical gold fund adds another layer of protection that the SPDR product doesn’t explicitly offer.
3. Very low entry price. At USD 5.00 per unit (roughly S$6.50), this is incredibly accessible. Compare that to SPDR’s ~S$500+ per unit. Yes, both have a 1-unit board lot, but the difference in absolute dollar terms is massive. This makes it very easy to dollar-cost average with small amounts.
The main drawback? It’s brand new, and CPF/SRS eligibility is pending.
If you’re cost-conscious and have access to a US brokerage, the US-listed GLDM with a 0.10% expense ratio is very attractive — but do keep in mind the US estate tax implications.
For investors who want to start small, the OCBC Precious Metals Account is a good option with its very low 0.01 oz minimum — although the new LionGlobal ETF at ~S$6.50 per unit gives it a run for its money.
For investors who want physical gold they can hold, the bullion dealers like BullionStar or UOB’s Main Branch are the way to go.
One thing I would caution — with gold at all time highs above US$5,000 per ounce, I would be careful about going all-in at one price.
Dollar-cost averaging or buying in tranches makes a lot of sense here, just like with stocks.
That’s the risk that I see.
Gold is a great long term store of value and hedge against money printing. But at these prices, there could easily be a short-term pullback of 10-20%.
So position sizing and building a position gradually is key.
Love to hear what you think! How are you buying gold in Singapore? And will you be subscribing to the new LionGlobal Gold ETF during the IOP?
Never miss a post! Follow Financial Horse by subscribing or following us on your favorite platform:
Subscribe to our mailing list for exclusive content straight to your inbox: