How to Buy Gold in Singapore: 5 Ways Compared (2025)
Singapore investors can buy gold five ways: physical bars and coins, gold ETFs, bank gold savings accounts, digital gold platforms, and Public Gold Malaysia. Each has different costs, minimums, storage requirements, and halal status. This guide covers all five with step-by-step instructions so you can start with the option that fits your situation.
Quick Comparison: All 5 Methods
Before diving into each method, here is the full picture side by side.
| Method | Minimum | Spread / Fee | Physical? | Halal? | GST? |
|---|---|---|---|---|---|
| Physical gold (BullionStar) | ~S$85 (1g bar) | 1–3% | Yes | Yes | Exempt |
| Gold ETF (SPDR, iShares) | ~S$100+ | 0.25–0.40% p.a. + brokerage | No (fund holds it) | If Shariah-cert | No exemption |
| Bank gold account (UOB, OCBC) | S$100–S$200 | 2–5% | Pooled (unallocated) | Varies | No exemption |
| Digital gold (HelloGold) | From S$5 | ~0.99% p.a. storage | Yes (redeemable) | Yes (LBMA) | Exempt |
| Public Gold GAP (Malaysia) | ~RM100 (~S$30) | ~9% spread | Yes (allocated) | Yes (JAKIM) | Exempt (MY) |
Method 1: Physical Gold Bars and Coins
Buying physical gold gives you direct ownership of a tangible asset. In Singapore, the main retailers are BullionStar, The Singapore Mint, GoldSilver Central, and UOB Gold counters.
Step by step: BullionStar (most popular for retail investors)
- Visit bullionstar.com or walk into the shop at 45 New Bridge Road, Singapore 059398
- Create a free account online (name, email, NRIC or passport)
- Browse gold bars (1g, 5g, 10g, 100g, 1kg) and coins (Singapore Mint, Pamp Suisse, Valcambi)
- Add to cart and pay via bank transfer, PayNow, or credit card (card attracts a small surcharge)
- Choose: take physical delivery or store in BullionStar's vault (free for 12 months, then 0.39% p.a.)
What to buy
- 1g bars: easiest to start, highest spread per gram (~3%). Good for testing.
- 10g bars: better spread (~2%). Sweet spot for most investors.
- 100g bars: lowest spread (~1%). Best value per gram.
- Coins (Dinar, Maple Leaf): higher premiums but easier to sell peer-to-peer.
Costs
- No GST on investment-grade gold (99.5%+ purity)
- Buy-sell spread: 1–3% depending on product size
- Storage: free for 12 months at BullionStar, then 0.39% p.a.
- Home safe option: one-time safe purchase (~S$200–S$500)
Method 2: Gold ETFs
Gold ETFs track the price of gold without requiring you to hold or store physical metal. The ETF manager holds the gold on your behalf.
Popular gold ETFs available to Singapore investors
| ETF | Exchange | Annual Fee | Physically backed? |
|---|---|---|---|
| SPDR Gold Shares (GLD) | NYSE (via Tiger, Moomoo) | 0.40% p.a. | Yes |
| iShares Gold Trust (IAU) | NYSE (via Tiger, Moomoo) | 0.25% p.a. | Yes |
| SPDR Gold MiniShares (GLDM) | NYSE (via Tiger, Moomoo) | 0.10% p.a. | Yes |
| iShares Physical Gold ETC (IGLN) | London Stock Exchange | 0.12% p.a. | Yes |
Step by step: buying a gold ETF via Tiger Brokers or Moomoo
- Download Tiger Brokers or Moomoo and complete account opening (SingPass MyInfo makes this fast)
- Deposit SGD via PayNow or bank transfer
- Search for "GLD", "IAU", or "GLDM" in the app
- Place a market or limit order during US market hours (9:30pm–4:00am SGT)
- No storage required — the ETF holds gold in allocated vaults on your behalf
Note: Gold ETFs are denominated in USD. You take on SGD/USD exchange rate risk as well as gold price movement.
Method 3: Bank Gold Savings Accounts
Singapore banks offer gold savings accounts that let you buy and sell gold in grams through internet banking. The gold is held in a pooled (unallocated) account.
Main options
- UOB Gold Savings Account: buy/sell 24K gold online, minimum 5 grams, spread approximately 2–3%, stored in UOB vault
- OCBC Gold Investment Account: minimum 5 grams, similar spread, accessible via OCBC internet banking
- DBS Multiplier + gold?: DBS does not offer a standalone gold account — use a broker or BullionStar instead
Key limitation
Bank gold accounts are unallocated — you own a claim on gold, not specific bars. If the bank faces financial difficulty, your gold account becomes a creditor claim rather than a segregated asset. For Muslim investors, the pooled nature also raises Shariah concerns at some banks.
Best for
Existing UOB or OCBC customers who want the simplest possible setup — no new accounts, buy gold directly from internet banking in grams. Not ideal for large holdings or investors who prioritise ownership certainty.
Method 4: Digital Gold Platforms
Digital gold apps let you buy fractional grams of gold from as little as S$5. The gold is physically backed and stored in vaults, but you hold it digitally.
HelloGold (main option in Singapore)
- LBMA-accredited gold stored in Brinks vaults in Kuala Lumpur
- Start from as little as the equivalent of 0.01 grams (~S$1–S$2)
- Annual storage fee: 0.99% of gold value
- Shariah-compliant — certified by IBFIM
- Physical redemption available (minimum 5 grams)
- Payments via FPX (Malaysia-linked) — works for Singapore users with Malaysian bank accounts
Note: HelloGold is primarily targeted at Malaysian users. Singapore users may find the payment process slightly less seamless than Malaysian users. Check current app availability in Singapore before proceeding.
Best for
Complete beginners who want to start with a very small amount (under S$50) and build a habit of saving in gold. The low minimum removes the barrier entirely.
Method 5: Public Gold Malaysia
Public Gold is Malaysia's largest physical gold retailer and is popular among Singapore Muslims due to its JAKIM halal certification. Singaporeans can register and buy gold in grams, with the option to take physical delivery.
Why Singaporeans use Public Gold
- JAKIM halal certification — strongest halal assurance available
- Allocated gold: your specific grams are set aside in your name
- Gold Accumulation Programme (GAP): save monthly from as little as RM100 (~S$30)
- Physical delivery available: home delivery for small amounts, branch pickup for 50g+
- Currency angle: buying in MYR when MYR is weak can amplify returns in SGD terms
Step-by-step: registering with Public Gold from Singapore
- Go to publicgold.com.my and click "Daftar Ahli" (Register Member)
- When asked for a dealer code, enter PG02637457
- Fill in your personal details — Singapore NRIC or passport number is accepted
- Upload a photo of your NRIC or passport for identity verification
- Verification takes 1 business day. You will receive a confirmation email.
- Log in and select the Gold Accumulation Programme (GAP) or a one-time purchase
- Pay via online bank transfer (FPX) — you will need a Malaysian bank account, or use Wise to transfer SGD to MYR first
- Your gold balance (in grams) appears in your dashboard after payment clears
Public Gold product guide
| Product | Type | Minimum | Halal? | Physical delivery? |
|---|---|---|---|---|
| GAP (Gold Accumulation Programme) | Allocated digital | RM100 (~S$30) | Yes (JAKIM) | Yes (request anytime) |
| Gold bars (1g–1kg) | Physical | ~RM560 (1g) | Yes | Immediate |
| Dinar coins (1/4, 1/2, 1 dinar) | Physical | ~RM140 (1/4 dinar) | Yes | Immediate |
| MIGA-i (via Maybank) | Allocated | 0.01g | Yes (SAC-BNM) | Yes (minimum 5g) |
Payment tip for Singaporeans: Use Wise to convert SGD to MYR before transferring to Public Gold. Wise's exchange rate is typically 0.5–0.6% above mid-market, significantly better than bank TT rates of 1.5–3%.
Ready to start with Public Gold?
Register under dealer code PG02637457 and get guidance on choosing the right product for your situation.
Register with Public GoldGST Exemption: What Qualifies
Singapore's Investment Precious Metals (IPM) scheme exempts qualifying gold, silver, and platinum from 9% GST. This is a significant saving — on a S$10,000 gold purchase, that is S$900 saved.
To qualify for GST exemption, gold must be:
- At least 99.5% purity (99.99% for most investment bars)
- In the form of a bar, ingot, or wafer
- Traded on an approved international exchange or produced by an LBMA-accredited refinery
What does NOT qualify:
- Gold jewellery — regardless of purity
- Commemorative coins not meeting the purity standard
- Gold-plated items
- Gold ETFs and digital gold accounts (these are financial instruments, not physical metal)
When buying from BullionStar or The Singapore Mint, ask for the IPM certificate or invoice showing zero GST for your records.
Which Methods Are Halal
For Muslim investors, the key principle is yad bi yad (hand to hand) — gold must be exchanged immediately and fully paid for. Deferred payment or paper gold with no physical backing is not permissible.
| Method | Halal Status | Reason |
|---|---|---|
| Physical gold bars / coins | Halal | Immediate exchange, full ownership |
| Public Gold GAP | Halal (JAKIM) | Allocated, certified by JAKIM |
| Maybank MIGA-i | Halal (SAC-BNM) | Allocated, SAC-BNM endorsed |
| HelloGold | Halal (IBFIM) | LBMA-backed, Shariah certified |
| Gold ETFs (physically backed) | Conditional | Halal if Shariah-certified fund. Check individually. |
| Bank gold accounts (UOB, OCBC) | Questionable | Unallocated pooled accounts — no specific physical gold ownership |
| CIMB eGIA-i | Not halal | No physical gold backing despite "i" name |
For a deeper dive on halal gold rulings including fatwa references, read: Is Gold Investment Halal? SAC, JAKIM and AAOIFI Rulings Explained.
Which Method Is Right for You
Starting out, under S$500
Public Gold GAP or HelloGold. Lowest minimums, halal certified, build the habit first. Spread is high but the entry barrier is the lowest.
S$500–S$5,000, want physical ownership
BullionStar 10g or 50g bars. Lower spread than 1g bars, GST exempt, can store in BullionStar vault or take home. Best cost efficiency in this range.
S$5,000+, prefer simplicity over physical ownership
Gold ETF (GLDM or IAU) via Tiger or Moomoo. Annual fee under 0.25%, no storage headache, buy and sell in seconds. Currency exposure is USD-denominated.
Muslim investor, halal certification required
Public Gold GAP (JAKIM cert) or physical gold bars from BullionStar. Maybank MIGA-i is an alternative if you have a Maybank account. Avoid CIMB eGIA-i and unallocated bank accounts.
Existing UOB or OCBC customer wanting zero friction
Bank gold savings account — buy directly in internet banking without opening new accounts. Trade-off: unallocated ownership, higher spread, no GST exemption.
Frequently Asked Questions
What is the cheapest way to buy gold in Singapore?
Digital gold platforms like HelloGold and Public Gold GAP have the lowest entry point, starting from as little as S$5–S$35. Physical gold bars have no ongoing fees but require a higher upfront amount. Gold ETFs have annual management fees of 0.10–0.40% but no spread beyond the bid-ask on the exchange.
Is buying gold in Singapore taxed?
Investment-grade gold (99.5%+ purity) is exempt from 9% GST in Singapore. Capital gains from gold are not taxed. There is no annual wealth tax on gold holdings. Singapore is one of the most tax-efficient jurisdictions in the world for gold investors.
Can Singaporeans buy gold from Public Gold Malaysia?
Yes. Singaporeans can register on publicgold.com.my using their Singapore NRIC or passport. Purchases are made in Malaysian Ringgit. Payment works via FPX (requires a Malaysian bank account) or via Wise transfer from SGD. Physical gold can be delivered to Singapore or picked up at a Public Gold branch in Johor Bahru.
What is the difference between allocated and unallocated gold?
Allocated gold means specific numbered bars are held in your name — you own identifiable physical metal. Unallocated gold means you have a claim on a share of a pooled gold reserve. In a bank insolvency, allocated gold is segregated from bank assets. Unallocated gold becomes a creditor claim. For most investors, allocated is safer and preferable.
Where can I buy physical gold bars and coins in Singapore?
BullionStar at 45 New Bridge Road is the most established retailer. The Singapore Mint (at HarbourFront) sells bullion and commemorative coins. GoldSilver Central at Bras Basah is another option. UOB bank branches sell gold bars. All four carry investment-grade gold exempt from GST.
Is it safe to store gold at home in Singapore?
Yes. Singapore has one of the lowest crime rates in the world. For small holdings (under S$5,000), a quality home safe (S$200–S$500) is practical. Home contents insurance typically covers gold up to S$5,000–S$10,000. For larger holdings, professional vault storage at BullionStar or Le Freeport Singapore is recommended at 0.1–0.5% p.a.
What is the spread on gold in Singapore?
The spread is the gap between the buy price and sell price. BullionStar physical bars: 1–3%. Public Gold GAP: approximately 9%. Bank gold accounts: 2–5%. Gold ETFs: under 0.5% per trade (plus annual fee). The larger your holding and the longer you hold, the less the spread matters as a percentage of total return.
How does GST exemption work for gold?
Under Singapore's Investment Precious Metals (IPM) scheme, gold of 99.5%+ purity in bar, ingot, or wafer form is exempt from 9% GST. Jewellery and non-standard coins are not exempt. Digital gold accounts and ETFs are financial instruments and do not fall under the IPM scheme. Always check your invoice shows zero GST when buying physical gold bars.
Is gold investment halal in Singapore?
Physical gold bought and paid for immediately is universally halal. Public Gold GAP (JAKIM certified) and Maybank MIGA-i (SAC-BNM endorsed) are the strongest halal options. Bank pooled gold accounts are questionable. CIMB eGIA-i is not halal despite the "i" branding — it is not backed by physical gold.
What is the minimum amount to start investing in gold in Singapore?
Public Gold GAP: from RM100 (~S$30). HelloGold: from S$5. Bank gold accounts: from S$100–S$200 (minimum 5 grams). Physical 1g bar at BullionStar: approximately S$85–S$100. Physical 100g bar: approximately S$8,500–S$10,000. Gold ETFs via brokerage: from S$100+ depending on ETF unit price.
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