Where to buy physical gold in Singapore?
Looking at 30 years gold price history, you can observe between 1990 to 2003, gold price is hovering between 250 USD to 400 USD/oz. As you may still remember, the early 2000 recession and dot-com bubble strike hard in the global economy between 2000 to 2002. On year 2004, you can see from the above chart that a major breakout happened and the gold price rallied to 679.86 USD/oz on May 2006.
And gold price continued its rally journey from August 2007 to $994.06 USD/oz on March 2008. That is when the financial crisis of 2007–2008, also known as the global financial crisis strike hard again in the global economy.
After this financial crisis happened between 2007 to 2008, you can observe that the gold price rallied to $1869.90 USD/oz on September 2011, highest in the history since then.
After that, gold price declined all the way to $1074.80/oz on Dec 2015, then gold price rallied back to $1318.80 USD/oz on July 2016. On 29 January 2018, gold price test the resistance level from previous July 2016 high but failed. Then the third attempt happened on June 2019 and a major rally happened after that all the way to 2029.08 USD/oz on August 2020.
Between February 2020 to August 2020 when the coronavirus crisis hit globally as we can call it COVID-19 recession, gold price rallied from 1672.40 USD/oz to 2029.08 on August 2020.
Do you know? Importing physical gold bars from distributors during this COVID-19 crisis can be very high cost due to the high freight charges and shortage of supply due to lock down, that add up to high premium on physical gold.
From the history of gold price since 30 years ago, every crisis events happened proven that physical gold is a definite hedge against crisis. Especially during the worse time in the history of mankind in this covid-19 crisis, investors are exiting their position from stocks market, ETF, or other form of investment and come back to the basic, which is to hold physical gold to hedge against inflation and crisis.
As a season gold investor, there is no best time to invest in physical gold. It would be wise to invest by dollar cost averaging whenever there is a dip in the gold price.
Where to buy physical gold in Singapore?
This is the golden question you might ask yourself whether you are a new gold investor or a season gold investor.
1. Only buy from honest and reputable precious metals dealer who are registered as a regulated precious metals dealer in Singapore. BuyGold.sg, is registered as the precious stones and precious metals dealers in the republic of Singapore. BuyGold.sg is a division of Gold Price Singapore Pte Ltd. A Singapore registered company (Reg No: 201118982K) established since 2011.
2. Buy from trusted dealer who offer the lowest premium and only go for LBMA listed investment grade physical gold bars or (Investment Precious Metals) IPM gold coins which is GST exempted. We only offer GST exempted physical gold bars or gold coins to our clients.
3. Buy from honest dealer who verify every physical gold they purchased in the market. We tested every single piece of physical gold bars or gold coins with our Precious Metals Verifier to ensure the authenticity of the gold we purchased from the market before we sell them to our clients.
4. In the future if you would like to sell back to the dealer, they will buy back from you at a good premium. We offer buy back for your LBMA listed investment grade physical gold bars or IPM coins, we buy back gold jewelry or even broken gold too. Visit here for more info: https://www.buygold.sg/sell-gold
5. Avoid trading paper gold as it is never a gold investment. You can hit into margin loss and furthermore you do not have any physical gold holding. Avoid vault storage allocated gold because it is just a paper contract between you and the company, in event of company closure and if they do not honor to allow withdrawal of your physical holding, you will be under the mercy of the company. It could have hidden withdrawal fee too. Allocated gold can have hidden cost such as storage charges, even though company might promised a trial period, but after the trial period end, the storage charges add up can be quite a significant amount which does not make your gold investment worthwhile after all.
Having said that, physical gold holding should be a wiser choice for every gold investors to get started to grow their gold wealth.
Gold Price Singapore Pte Ltd has been around since 2011 with good reputation and good track record over the years. We are very transparent in every dealing to our valued clients and our clients are happy to get good deals from us.
We are persistent in adding value to our customers by offering a whole range of related products and services and are committed in offering the best value of all your precious metal’s needs.
Our core values
With businesses become profit-driven at all costs, BuyGold.sg continues to uphold the two main basic values of Integrity and Honesty, in the development of a sustainable business. We pride ourselves in offering only genuine physical gold products and the best service to you.
We aim to give the best value for your physical gold purchase to make your gold investment worthwhile not only in the short term but in the long term.
You may view our Google Reviews written by all our valued clients.
Why support local businesses?
Did you know? Local businesses and Small Medium Enterprises (SMEs) form the backbone of the economy and contribute to around 66% of all employment in Singapore. While we are enduring and doing our best to get through the COVID-19 pandemic crisis, many small businesses that we know are struggling to survive – many owners and employee’s jobs might be on the line!
We are a local based company aim to serve the community with the best value of their precious metal’s needs. For us to achieve this, we need the support of the gold investors clients. Whether you are looking to buy or sell your physical gold to us, our aim is to provide the best value for your physical gold.
Gold Price Singapore Pte Ltd provide physical gold in various form, we aim to provide the best value of your physical gold purchase. We carry IPM qualifying Gold Coins which is GST exempted and LBMA listed brand 999.9 Gold Bars. You may shop at our physical gold online store at www.buygold.sg and we provide Secured Delivery in Singapore. For order at our store counter and self collection, you may arrange an appointment with our sales person, Billy at (65) 9781 8351.