Saturday, November 14, 2009

Precious Metal Investment in Singapore

Gold has just reached a record high of the year, and historical record high ever. People may start looking around for ways to invest in precious metals such as gold and silver in Singapore. Such investors may be disappointed. There are, frankly speaking, very limited options in investing in physical precious metals here.

For gold investment, other than buying gold jewellery from your friendly goldsmith, the only other way is to buy from the Gold Department of UOB. You have choices of buying American Eagle, Canadian maple leaf, and 3 other less common choices. Even that will not guarantee you will get what you want. Since the gold price skyrocketed, there has been reports saying UOB is constantly out of stock of certain types of gold bullions that they sell. The 1 oz version was even sold out for some time.

For silver, the choices is even more limited if you want to buy from a 'reputable' institution such as a bank. UOB only offers silver certificates, but not physical silver. To get physical silver such as Canadian silver maple leaf, or American silver eagle, you may have to buy from overseas, such as eBay, or Kitco, and a pay the cost of shipping. There is one private company in Singapore selling those silver bullions and bars too, but I have not purchased from them before, so I am not sure about them. Ok, that's about all the options you have in Singapore to invest in physical precious metals.

Other means of investing precious metals will involves financial instruments such as options, futures, which are all paper.

Precious metal investment vehicles may be one of the many areas that the Singapore government can look into for opportunities. I am sure many from our neighbours would like to have their golds and silvers in Singapore for safe keeping.


  1. There is a high fee attach with the silver investment uob acc, Have you do the calc?
    I am keen to open up the acc as well.

  2. No, I have no intention to open the silver account. For non-physical investment into silver, the iShare Silver ETF traded at NYSE may be a better choice. You can just buy and sell like normal share. If you hold such US counters with DBS Vickers, no custodian fee also.

  3. I agree with you people are looking to get more physical gold investments as the prices have really sky rocketed. The price doesn’t look like it is going to come down any time soon. So investing in gold or silver or any other precious metal would be a right choice.