Why Invest Gold and Silver in Singapore?

Singapore makes a big move to become one of the biggest players in precious metals market for investment-grade precious metals.

Singapore government has announced in budget 2012 to exempt 7% GST (Goods & Services Tax) on investment-grade precious metals (gold, silver and platinum) effective on 1st October 2012. Investors can now store their gold and silver in Singapore without being taxed.

Importation and supply of investment-grade gold, silver and platinum in form of bar, ingot, wafer and coin which meet its criteria will be exempted from 7% GST, while exported supply of precious metals will be zero-rated.

Singapore hopes this move will actually help to boost up the demand in precious metals trading market to be like London and Zurich, to serve not just in Asia but worldwide.

Gold and silver are essentially money and it does not make any sense to imply sales tax in it. 

The exemption of GST on gold and silver will allow Singapore to have a competitive edge with Hong Kong and other bullion trading centers in the region.

According to World Gold Council, the world official gold holding statistics dated in December 2012, Singapore is ranked 26 with 127.4 tonnes holdings, 2.7% of reserves. 

Singapore’s share of precious metals market currently is held about 2% of global gold demand and aiming to expand the share to 10% or even 15% in the next 5 to 10 years.

Ideally Singapore is one of the safest countries in the world with its stringent laws and policy, now attracting more foreign investors to invest gold and silver and store their gold and silver in Singapore.

By Mercer rankings, Singapore ranks at No 9 overall, ahead of Auckland and Wellington, as the ‘safest’ place in Asia.

One of the best locations in Singapore to store physical gold and silver is Certis Cisco. 

You may open Safe deposit boxes with Certis Cisco at your preferred location such as Paya Lebar, Jurong East or Bukit Merah. They offer a very competitive price range for various sizes of safe deposit boxes.

After 1st October 2012, we see an increasing demand on physical gold and silver purchase in Singapore not only from local investors, but also from foreign investors who are seeking to invest gold and silver and to store their precious metals.

Due to loss of faith in dollar and uncertainty in the US economy and the world financial economic system, serious investors are now parking their assets into physical gold and silver to hedge against inflation and protect against economic uncertainty.

Written By:
Gold Price Singapore Pte. Ltd.
Hotline: (65) 6591-8832
Email: sales@goldprice.com.sg

Gold Price Singapore supply top quality and internationally recognized physical gold bars, gold coins, silver bars, silver coins and unique gold and silver gifts ideas.

Looking to Buy Gold in Singapore or Buy Silver in Singapore? Look no further, only at Gold Price Singapore, your trusted gold and silver dealer in Singapore.


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Testimonials ( 21 )

Review By Kit
Bought my first silver bar from Billy. Good and trustworthy seller. Will definitely recommend.

2014-02-22 11:59:31
Review By Zhiqiang
Very honest seller. Good recommendation from billy as we'll. will sure return to purchase more.

2013-12-02 22:29:53
Review By Kim Teo
Even though I just bought a 100g PAMP Gold bar, this guy, Billy, is very friendly. Definitely not a biased seller. I will for sure, be back and get for more.. Cheers Billy..

2013-10-27 08:24:39
Review By Allen
My first transaction with GPS makes me feel sincerity from Billy. Explanation of the product bought and without a thought, a thoughtful man looking into the need of the buyer. GPS is a recommended place if you intend to start your commodity collection. For sure i will.

2013-06-15 16:55:41
Review By Alizah Abdulla
I've just purchased the 5grams pamp Suisse fom Billy yesterday, it was a great pleasure to know u. Service was excellent shall return for more.

2013-05-13 17:09:33
Review By Alizah Abdullah
I've just purchased the 5grams pamp Suisse fom Billy yesterday, it was a great pleasure to know u. Service was excellent shall return for more.

2013-05-05 12:47:23
Review By Lim Even
Started my precious metal investment collection diversification plan about 9 months ago and approached Mr Billy from Gold Price Singapore, had enriched my knowledge and belief in continue month after month. with the current dip in metal prices, presented to us an golden opportunity to enter and acquire more in our wealth creation for the future. GPS is pro-active, dependable and professional in services rendered and I hope they can incorporate some form loyalty membership plan for us as investor as partners to benefit from some form of discount benefits. I am one very satisfied customer of Gold Price Singapore and look forward for better deals in near future.

2013-04-19 20:31:48
Review By Michael Chua
I had just purchase some gold from billy today.he is very trustworthy and friendly. He called me again for some cash refund as I leave his office. Will definitely return again..

2013-04-19 02:40:55
Review By Mr. Lee
Trusted Gold & Sliver Authorized Dealer.Fast Transaction with Positive SSL Certificates.With Gold/Silver 24-hour Spot Chart.100% Highly Recommended.Will definitely be back with more order :)

2013-04-18 23:24:25
Review By HAIRI
Billy was very accomodating. I'm happy with my purchase. Will definitely return again though i'm staying on the other side of Singapore. Thanks Billy, n sorry to disturb during ur kopi time. See ya

2013-04-04 23:05:15
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