How Singapore became the go-to gold bunker for the ultra-rich

Rising inflation, conflict in the Middle East, fears of financial contagion in regional banking systems — global uncertainties are mounting. And in the face of this turbulence, the world’s ultra-wealthy are moving their gold reserves and precious assets to one place: Singapore.

Born out of a dramatic split from Malaysia in 1965, Singapore has long put stability and business at the core of its nation-building strategy. With no natural resources to rely on, the city-state bet on finance, logistics, and the rule of law. That bet is paying off.

Today, as trust in traditional Western financial centers is shaken by rising regulation and uncertainties, Singapore’s blend of political neutrality, low taxes, and ultra-secure storage facilities is helping it quietly become the go-to vault for global wealth.

The demand for secure storage in Singapore has surged amid global economic uncertainties and geopolitical tensions. Wealthy individuals are more into physical assets like gold to safeguard their wealth. For instance, Silver Bullion's facility, The Reserve, is designed to hold 500 tonnes of gold and 10,000 tonnes of silver, with an appetite for tangible assets.

Gregor Gregersen, the founder of the repository, stated that from the beginning of the year until April, there was an 88% increase in orders for storing gold and silver in the vault compared to the same period in 2024, as reported by CNBC. The Reserve, which also sells gold and silver bars, saw sales for precious metals bars skyrocket 200% year on year during that time, data provided by The Reserve showed.

Strategic advantages fueling Singapore's rise

Singapore's ascent as a preferred gold storage hub is attributed to its robust legal framework, political stability, and strategic geographic location. The government's proactive policies, including exempting investment-grade precious metals from the Goods and Services Tax (GST), have further enhanced its appeal to investors seeking safe and efficient wealth preservation options.

The city's state-of-the-art storage facilities, such as Le Freeport—often referred to as "Asia's Fort Knox" offer high-security vaults for storing valuable assets. These facilities provide clients with confidentiality and peace of mind, essential factors for individuals and institutions aiming to safeguard their wealth against global market volatility.

Global trends driving the shift

The demand for secure storage solutions in Singapore aligns with a broader global trend where investors diversify their portfolios to include tangible assets like gold. Factors such as fluctuating currency values, inflation concerns, and geopolitical tensions have prompted the ultra-rich to seek stable environments for their assets.

Singapore's commitment to upholding the rule of law and its reputation for low corruption levels make it an attractive alternative to traditional wealth havens. The city's commitment to transparency and regulatory compliance ensures it remains a trustworthy location for asset storage.