Ultra-Rich Storing Gold in Singapore Amid Global Uncertainty and Trump-Driven Volatility

As economic and geopolitical risks escalate around the world, the ultra-wealthy are increasingly moving their gold offshore, and Singapore has rapidly become one of the most trusted destinations for physical gold storage.

Just minutes from Changi Airport lies a six-story fortress clad in black onyx and secured with cutting-edge technology. Inside this highly fortified building—known as The Reserve—are gold and silver bars valued at approximately $1.5 billion, quietly tucked behind thick steel doors.

Gold Storage Demand in Singapore Surges Nearly 90%

From January to April 2025, orders to store gold and silver at The Reserve jumped by 88% year-on-year, according to founder Gregor Gregersen. In the same period, sales of precious metals bars rose a staggering 200%, reflecting a global shift in wealth preservation strategy.

“Many high-net-worth individuals are watching tariffs, global power shifts, and geopolitical instability,” Gregersen told CNBC. “The trend of placing physical gold in a safe jurisdiction like Singapore, with reliable partners, is gaining traction.”

He added that 90% of the new gold vaulting orders came from outside of Singapore.

Gold Hits Record Highs as Demand for Physical Bars Outpaces Paper Gold

With gold prices reaching record highs—currently trading at $3,346.32 per ounce—the ultra-rich are turning to physical gold bars over paper gold due to concerns about market exposure and counterparty risks.

“The collapse of Silicon Valley Bank in 2023 accelerated the shift toward owning specific, allocated gold bars,” said Nicky Shiels, Head of Metals Strategy at MKS Pamp. Investors are now prioritizing direct ownership to reduce exposure to systemic risks that come with pooled or paper assets.

Singapore: A Safe Haven for Global Wealth and Gold Holdings

Singapore’s reputation as a politically stable and economically sound country, combined with its role as a key global transit hub, makes it an ideal location for high-security gold vaults.

“Singapore is the ‘Geneva of the East.’ It’s a financial and logistical hub with an international legal framework that gives clients peace of mind,” said Shiels.

Jeremy Savory, founder of Millionaire Migrant, noted that Switzerland is losing ground to Singapore due to convenience and easier access. “In Singapore, you can store your gold and pick it up quickly. The process is streamlined,” he said.

Banking System Distrust Fuels Offshore Gold Vaulting

Wealthy individuals in countries with fragile banking systems—such as Lebanon, Egypt, and Algeria—are increasingly moving their gold overseas.

“If you're in a country where you don't trust the banking system, you simply won't store your gold in banks. That’s why clients are shifting assets to vaults in Singapore, Switzerland, and Dubai,” Savory explained.

John Reade, Chief Market Strategist at the World Gold Council, added: “Many investors avoid holding gold within the banking system altogether, even in allocated form, because they worry about systemic risk.”

Short-Term Costs, Long-Term Security

While storing physical gold carries higher upfront costs compared to trading paper gold, experts note that the long-term benefits of wealth protection, asset control, and geopolitical risk mitigation far outweigh the expenses—especially for those with substantial assets.

Conclusion: Singapore Emerges as the Global Gold Vault for the Ultra-Wealthy

As global financial instability rises, the ultra-rich are doubling down on physical gold storage in secure, offshore locations. Singapore stands out as a trusted gold storage hub, combining strong infrastructure, strategic location, and a stable legal framework—cementing its role as the go-to safe haven for global wealth.

Gain a competitive edge with up-to-date market intelligence from InfoFinance – follow us for the latest insights.
Source: CNBC