Price of gold in Singapore is a small island country in Southeast Asia. It uses the Singapore Dollar (SGD) as its money. As of November 30th, 2024, gold costs 107.28185 SGD per gram.
Gold prices are often shown in ounces, grams, or kilos. They can also be in other money like U.S. Dollars, euros, Japanese Yen, or Great British Pounds.
Key Takeaways
- The current price of gold in Singapore is 107.28185 SGD per gram as of November 30th, 2024.
- Gold prices in Singapore can be quoted in various units, including ounces, grams, and kilograms, as well as different global currencies.
- Singapore uses the Singapore Dollar (SGD) as its official currency, with the cent being the smaller unit subdivided into 100 cents.
- The Singapore Mint was established in 1968 and produces a range of gold coins and bars, including the Singapore Lunar Dog 5 troy ounce old proof coin with 999.9% fine gold.
- Factors such as the global economic environment, supply and demand, inflation rates, interest rates, currency strength, central bank activities, and geopolitical events can influence gold prices in Singapore.
Understanding Singapore’s Gold Market Overview
Singapore is a big player in the global gold market. It has a strong economy and is very open to business. The Singapore Dollar is one of the most traded currencies worldwide. It’s used for gold transactions in Singapore and Brunei.
Singapore’s Position in Global Gold Trading
Singapore is a great place for gold trading because of its location and stability. The gold market here works with the world’s trading hours. This makes it easy for investors to join the global gold market.
The Role of Singapore Dollar in Gold Transactions
The Singapore Dollar is key in the gold market here. It’s a stable and liquid currency used for gold deals. The central bank’s gold reserves make the dollar even more trustworthy.
Market Operating Hours and Trading Sessions
The gold market in Singapore works with the world’s trading hours. This lets traders and investors join the global market anytime. It’s a big chance to make money all day, every day.
| Gold Metric | Price in Singapore Dollars |
|---|---|
| 1 kg of 22-karat Gold | 86,941 SGD |
| 1 kg of 24-karat Gold | 94,244 SGD |
Singapore is a top spot for gold trading in the Asia-Pacific. The Singapore Dollar is widely accepted. The market works with the world’s trading hours. It’s a great place for gold investors and traders from all over.
Latest Price of Gold in Singapore
As of November 30th, 2024, 1 gram of 24-karat gold costs 149 SGD in Singapore. This gold is 99.9% pure. On the other hand, 22-karat gold, used for jewelry and investments, costs 138 SGD per gram. It has 91.67% gold purity.
The gold market in Singapore changes a lot. Prices move up and down because of global and local factors. We’ve gathered the latest gold price data for you:
| Gold Type | Price per Gram (SGD) | Price per 10 Grams (SGD) |
|---|---|---|
| 24K (999) Gold | 149 | 1,490 |
| 22K (916) Gold | 138 | 1,380 |
| 18K Gold | 115 | 1,150 |
| 14K Gold | 90 | 900 |
These prices can change every day. It’s important to keep an eye on the current gold price per gram in Singapore. This helps you make smart choices about gold investments and purchases.
By keeping up with the gold price per gram Singapore, you can understand market trends. This knowledge helps you make good decisions about gold transactions. Gold is a valuable asset that can add stability and diversity to your investments.
Factors Influencing Singapore Gold Rates
Singapore’s gold rates are linked to the global gold market. They are affected by many economic factors. The city-state’s gold prices change with the international market and currency rates.
Global Market Impact on Local Prices
The gold rates in Singapore are greatly influenced by the global gold market. Events like the US structural deficit, global debt levels, and inflation rates can change gold prices in Singapore. For example, gold prices went up by US$220 in 2023.
By late April, gold prices reached a high of US$2,048/oz.
Currency Exchange Rate Effects
The Singapore gold market is also affected by currency exchange rates. The Dollar Index fell by almost 14% from its peak in September 2022. This helped gold prices in Singapore go up. But, a stronger Singapore dollar can make gold prices lower, making it cheaper for locals.
Economic Indicators and Gold Prices
Other economic indicators also play a role in gold prices in Singapore. Real interest rates, inflation, and official sector demand can influence prices. Real rates have not been a big factor in gold prices in 2023. But, official sector buying of gold reached 1,136 tonnes in 2022.
| Indicator | Impact on Gold Prices |
|---|---|
| US Debt Ceiling | Potential support for gold prices |
| Federal Reserve Interest Rate Hikes | Potential downward pressure on gold prices |
| Inflation Expectations | Potential support for gold prices |
Understanding these factors helps investors and consumers in the Singapore gold market. They can make better choices about gold rates in Singapore.
Gold Investment Options in Singapore
Singapore has many gold investment options. You can choose based on your strategy and how much risk you want. Whether you want a long-term portfolio or quick gains, Singapore has many gold investment Singapore and buying gold in Singapore choices.
Physical Gold
You can buy physical gold like bars and coins from approved places in Singapore. The Singapore Mint makes special gold coins. For example, the 2018 Singapore Lunar Dog 5 troy ounce gold proof coin is great for investors and collectors.
Gold ETFs
Gold Exchange-Traded Funds (ETFs) let you invest in gold without keeping it. In Singapore, popular ETFs are the SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU). They manage big amounts of money.
Gold-Backed Securities
Gold-backed securities like certificates and bonds let you invest in gold without owning it. They cost less than buying physical gold and have lower storage costs.
Choosing the right gold investment Singapore option is key. You need to know the market, fees, and risks. This helps you make smart choices that fit your financial goals.
| Investment Option | Key Characteristics | Advantages | Disadvantages |
|---|---|---|---|
| Physical Gold | Bullion bars and coins | – Tangible assets that can be held and possessed – Reliable store of value |
– Higher premiums and storage costs – Less liquid compared to ETFs |
| Gold ETFs | Shares traded on stock exchanges | – Higher liquidity – Lower storage and management fees |
– Exposure to market fluctuations – Potential counterparty risk |
| Gold-Backed Securities | Certificates and bonds | – Lower premiums and storage costs – Easier to trade than physical gold |
– Counterparty risk – Less direct ownership of the metal |
When investing in gold investment Singapore, think about your risk level, how long you can invest, and your financial goals. Choose the option that fits your needs best.
Singapore Gold Standards and Purity Measurements
Singapore follows the highest standards for gold purity and quality. Gold purity is measured in karats or fineness. The purest gold is 24k, which is 99.9% pure.
Understanding Karats and Fineness
The purity of gold is shown in karats, with 24k being the top grade. But, 24k gold is too soft for jewelry and other uses. So, gold is mixed with other metals to make it stronger.
For example, 22k gold is 91.67% pure and is popular in Singapore. It’s strong and has good purity.
Fineness is another way to show gold purity. It’s a number out of 1,000. For example, 999 gold is 24k, and 916 gold is 22k.
Certification and Hallmarking
Singapore has a strong system for checking gold’s authenticity and purity. The Singapore Mint makes gold coins and bars that are 999.9 fine. These items come with certificates that prove their quality.
Gold jewelry and items in Singapore also get a hallmark. This mark shows the gold’s purity. It gives buyers confidence in the gold’s quality.
Quality Assurance Processes
Singapore’s gold market has strict quality control. Suppliers and sellers must follow strict rules. They are checked often to keep gold quality high.
When you buy gold bars, coins, or jewelry in Singapore, you know it’s top quality. Singapore’s gold standards and purity are among the best worldwide. This gives you peace of mind about the quality and authenticity of your gold.
Where to Buy Gold in Singapore
Singapore has many places to buy gold. Reputable gold shops and retailers are all over the city. They help both old and new gold bullion buyers.
Mustafa Jewellery is a top spot for buy gold Singapore. They have gold bars and coins from famous brands like PAMP Suisse and Metalor. You can pick from many sizes to fit your investment needs.
- Mustafa Jewellery’s gold bullion has cool designs and clear purity info. This means it’s real and good quality.
- They offer great service and prices. Buying gold here is easy and safe.
- They have an online shop and physical stores. This makes it easy to get their gold bullion.
Singapore also has more gold retailers Singapore for gold investments. You can find authorized dealers, banks, and special gold trading sites. Each one has its own selection and services.
People looking to diversify or keep their wealth safe often choose gold. By checking out the gold shops Singapore, you can find the perfect gold bullion for your goals.
“Gold has always been a symbol of wealth and financial security, and investing in gold bullion can be a wise decision, especially in times of economic uncertainty.”
Whether you’re experienced or new, Singapore has lots of places to buy gold. You can find trusted retailers, clear prices, and quality gold bullion. It’s a safe and easy place to buy gold.
Understanding Gold Price Calculations
When you buy gold in Singapore, prices are in Singapore dollars (SGD) per gram or ounce. As of November 30th, 2024, gold costs 107.28185 SGD per gram. But, your total cost might include more than just the metal price.
Price Per Gram vs. Per Ounce
Gold is sold in grams and ounces. The price per gram is common for small buys, like jewelry. The price per ounce is for bigger deals, like gold bars or coins.
Premium and Making Charges
When you buy gold, especially jewelry, you’ll see extra costs. These are called premiums and making charges. They change based on the seller and the gold item. Premiums cover refining, minting, and shipping costs. Making charges are for the design work.
| Gold Product | Premium | Making Charge |
|---|---|---|
| Gold Bar | 1-3% | N/A |
| Gold Coin | 3-5% | N/A |
| Gold Jewelry | 2-5% | 5-15% |
Knowing these extra costs is key for your gold price calculations and gold rates Singapore. This helps you make better choices when buying gold in Singapore.
“The empirical duration of gold over the past 20 years has been 24 years, indicating how it has traded historically.”
The Singapore Mint and Gold Collectibles
The Singapore Mint started in 1968. It makes many gold collectibles for investors and fans. You can find coins, gold foils, and ingots here. They have many gold items for different tastes and goals.
The Singapore Mint made a special coin in 2018. It’s called the Singapore Lunar Dog 5 troy ounce gold proof coin. It shows the beauty of the lunar calendar and the Mint’s skill. They also have a 1 gram 999.9% fine gold BU coin. It looks like a bullion bar and is very pretty.
Prices for these gold items vary a lot. Some cost as little as €49.95, while others are up to €1,999.95. For example, the 1/20oz Singapore Lion Gold Coin costs $272.45. The 1oz version is $3,679.23, and you can sell it for SGD 167.45 to SGD 3,515.27.
There are more special gold items from the Singapore Mint. Like the 1969 Singapore Mint 150th Anniversary of Founding of Singapore 150 Dollars Gold coin. It costs $3,250.00 (with GST). They also have Lunar-themed gold coins from the 1990s and early 2000s. The 1995 Year of the Pig Proof Gold Coin and the 2003 Lunar Goat Proof Gold Coin both cost about $4,100 (with GST).
If you want to add to your collection or invest, the Singapore Mint has lots to choose from. They have many beautiful and valuable gold items.
“The Singapore Mint’s gold collectibles are not only visually stunning but also hold significant value for both investors and collectors alike.”
Gold Storage and Security Options
Singapore has many safe places to store your gold. You can choose from bank boxes, private vaults, or gold dealer services. Each option meets different needs and risk levels.
Storing gold in Singapore is safe because of its stable politics and strong laws. It’s a top place for business and living. This makes it great for keeping your gold safe.
If you want top security, try The Safe House. It’s guarded all day and night. There’s CCTV and full insurance against theft, fire, and disasters. Your gold is very safe here.
| Asset Storage Fees | Private Safe Deposit Boxes and Mailboxes | Additional Services |
|---|---|---|
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Singapore’s gold dealers, like Silver Bullion, also offer safe storage. They let you keep your gold and still sell it or use it for loans. This is a flexible way to store your gold storage Singapore.
Choosing any storage in Singapore means your gold security is top priority. The country’s focus on safety and stability makes it perfect for protecting your gold.
Conclusion
Singapore’s gold market is full of chances for investors and collectors. Its strong economy and stable currency make it great for gold investment. Keeping up with Singapore gold market prices and trends is key to smart choices.
The market in Singapore is shaped by many things. This includes global economic conditions and local demand. Knowing these helps you make better choices for your gold investments.
Whether you want gold bars, coins, or other options, Singapore has a lot to offer. It’s important to stay informed and work with trusted dealers. This way, you can make the most of your gold investments in Singapore.