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Gold Sales Surge 35% Amid Global Uncertainty in Singapore

5/12/2025

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Summary

Story summary

In Singapore, gold bullion sales skyrocketed to 2.5 tonnes in the first quarter, a remarkable 35% surge from last year—the highest increase since 2010. As global uncertainty looms, investors flock to gold as a safe haven. Conversely, gold jewelry demand plummeted by 20% due to soaring prices and GST, yet analysts predict robust gold demand will persist.

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Story summary

In Singapore, gold bullion sales skyrocketed to 2.5 tonnes in the first quarter, a remarkable 35% surge from last year—the highest increase since 2010. As global uncertainty looms, investors flock to gold as a safe haven. Conversely, gold jewelry demand plummeted by 20% due to soaring prices and GST, yet analysts predict robust gold demand will persist.