Singapore (VNA) – Gold retailers in Singapore are increasing inventories to meet surging demand for the precious metal amid escalating tensions in the Middle East.
Bullion dealers and jewellers said purchases of gold have risen sharply in recent weeks, driven by safe-haven demand and expectations of interest rate cuts. Popular products include gold bars, coins and jewellery while some buyers are also turning to silver.
Alongside middle-aged customers, a growing number of younger investors in their 20s and 30s are entering the market, viewing gold as a long-term investment asset.
Market players noted that more people are also selling or trading older gold items to take advantage of high prices.
According to industry insiders, demand has outpaced supply, partly due to constraints in refining capacity and logistics in key hubs such as Switzerland, the UK and Hong Kong (China). This has led to longer production times and higher premiums for certain products.
In response, Singapore retailers are building buffer stocks of core items such as 100g gold bars and one-ounce coins, while actively managing pricing risks.
Gold prices have remained volatile, influenced by geopolitical developments and interest rate expectations. Rising oil prices have further added to market uncertainty as higher energy costs could fuel inflation and prompt the US Federal Reserve to maintain elevated interest rates, potentially weighing on non-yielding assets like gold.
However, analysts said that if geopolitical tensions persist or supply disruptions continue, gold prices may stay elevated longer than expected./.
World Water Day 2026: A “critical survival challenge” for Singapore
Speaking at Singapore World Water Day and the launch of national water agency PUB’s annual water conservation campaign, Coordinating Minister for Public Services Chan Chun Sing noted that the country has the technology to "largely" process the water it needs. But Singapore’s water dependency has now shifted to an energy dependency.
