BullionStar News
Writers Torgny Persson, Koos Jansen
& Hong Kang See

Gold Demand in the Singapore Bullion Market

Monday the 11th of December 2017
Singapore has evolved into one of the world’s most dynamic gold trading and storage hubs. Following sustained growth over the last five years backed by government initiatives to develop the country's investment precious metals (IPM) sector, Singapore now hosts a vibrant local and regionally focused gold market comprising a wide variety of precious metals participants. These participants range from retail bullion dealers to bullion wholesalers, from precious metals refineries to secure logistics providers, and from bullion banks to trading houses.

One of the early initiatives that transformed Singapore into a precious metals trading and storage hub came in February 2012, when during a budgetary speech to parliament, finance minister Tharman Shanmugaratnam announced that the importation and supply of investment-grade gold and other precious metals in Singapore would become exempt from Singapore’s Goods and Services Tax (GST). Previously the GST on precious metals in Singapore was 7%.

As reported by Reuters in February 2012, Shanmugaratnam in his budget speech envisaged that:

“We will facilitate the development of gold trading, which can draw on Singapore’s strengths as a financial and trading hub, to meet strong demand for investment-grade gold in Asia.”

The GST exemption on investment precious metals was first introduced on 01 October 2012, and applies to transactions in investment-grade gold, silver and platinum that are in the form of high purity bars, ingots and coins. This means that investment grade precious metals purchased in Singapore are free of GST.

International Enterprise (IE) Singapore, an office of the Singapore Government, has also been active in... Continue Reading
By: BullionStar
BullionStar's Retail Bullion Shop, Showroom & Vault
Shop Address:
45 New Bridge Road
Singapore 059398

Opening Hours:
Mon - Thu: 11am - 7pm
Fri: 11am - 5pm
Sat: 10am - 2pm
Click here for more info
Featured Products
Singapore Silver Merlion Round - Low spread of 0.99% - 1 oz Singapore Silver Merlion Round - Low spread of 0.99% - 1 oz USD 1­7.38
Featuring Singapore's landmark, the Merlion and Singapore's national flower, the Orchid. BUY NOW
BullionStar Mint - Gold Bars with No Spread - 100 g BullionStar Mint - Gold Bars with No Spread - 100 g USD 4,16­1.60
BullionStar's own branded 100 gram 99.99% pure gold bars, produced by world renowned Swiss refiner Argor-Heraeus. No spread between buy and sell price when trading 10 or more pieces. Min. holding period of 7 days apply. BUY NOW
Heraeus Silver Lunar Stacker Bar 2018 - Year of the Dog - 1 kg Heraeus Silver Lunar Stacker Bar 2018 - Year of the Dog - 1 kg USD 57­0.17
The first ever Heraeus Stacker Silver Bar to be produced! Each 1 Kilo Heraeus Lunar Silver Bar has beveled, interlocking surfaces that stack for safekeeping. For added security, each bar is equipped with micro-reeded perimeter, an anti-forgery swirl pattern on the reverse, along with a unique serial number.  BUY NOW
Australian Gold Kangaroo Nugget 2018 - 1 oz USD 1,29­7.38 BUY NOW
BullionStar Mint - Silver Bars with No Spread - 1 kg USD 59­6.00 BUY NOW
PAMP Gold Bar - 100 g USD 4,08­9.34 BUY NOW
Heraeus Silver Bar - 10 oz USD 17­0.24 BUY NOW
 
NEXT
Pick-up, Store or Ship
Delivery

It´s your metals - It's your choice. Pick-up your metals in our shop, store them in our vault or ship them to your delivery address.

Learn More
My Vault Storage®
Storage

"My Vault Storage®" is BullionStar’s solution for storage. Store your bullion fully allocated in one of the most stable and safe jurisdictions in the world – Singapore.

Learn More
How to Order from BullionStar

This guide provides you with information of how you place an order with BullionStar.

Learn More
Insurance & Protection

You can always feel safe whether you have your products shipped or stored with BullionStar. All products are fully insured in all instances.

Learn More
Ask a BullionStar Expert

Let our experts guide you in the world of precious metals.

Learn More
FAQ & Help
FAQ

Answers to your most frequent questions.

Learn More