Gold Price in Singapore
As of the latest trading session, the gold price in Singapore stands around:
- SGD $3,160 – $3,190 per troy ounce for 24-karat (pure) gold.
- SGD $101 – $103 per gram for 24K gold, depending on market fluctuations and dealer premiums.
- 22-karat gold is trading near SGD $93 – $95 per gram, commonly used for jewelry in Singapore.
These rates reflect retail bullion and jewelry prices adjusted from the global spot market, which is currently around USD $3,985 per ounce internationally.
📍 Key Insights
1. Singapore’s Role in the Gold Market
Singapore is one of Asia’s major gold trading hubs, hosting leading refineries and bullion dealers. The Singapore Bullion Market Association (SBMA) helps ensure transparent pricing and global-standard purity verification.
2. Local Factors Affecting Prices
- SGD–USD exchange rate: Since gold is priced globally in US dollars, any weakening of the Singapore dollar pushes local prices higher.
- Demand trends: Strong seasonal jewelry demand during weddings and festivals can raise retail premiums.
- Investment activity: Growing interest in gold ETFs and physical bullion among Singaporean investors keeps daily turnover active.
📈 What’s Driving the Current Gold Price Surge
- Global Economic Uncertainty – Inflation concerns and geopolitical risks have increased investor demand for safe-haven assets like gold.
- Interest Rate Outlook – Expectations of stable or declining global interest rates reduce the opportunity cost of holding gold.
- Asian Market Demand – Rising consumption across Asia, especially in China and India, supports higher global prices.
- Strong Bullion Buying in Singapore – Local investors view gold as a hedge against currency volatility and inflation.
🪙 Typical Retail Pricing in Singapore
| Purity | Price Range (per gram, SGD) | Typical Use |
|---|---|---|
| 24K (999.9) | 101 – 103 | Investment bars & coins |
| 22K | 93 – 95 | Fine jewelry |
| 18K | 76 – 79 | Ornaments & mixed jewelry |
| 14K | 60 – 63 | Everyday wear jewelry |
(Rates vary slightly among dealers and change daily with the global spot price.)
📅 Outlook
Market analysts expect gold prices in Singapore to remain elevated in the near term due to persistent global uncertainty and resilient investment demand. However, short-term corrections may occur as global interest rates and currency movements shift.