The private banking arm of OCBC will allow clients to trade and store physical gold locally in Singapore with its brand new offering this week.
OCBC will offer clients of its private banking arm, Bank of Singapore, access to new physical gold trading services from June 10 onwards, according to an announcement. The fresh capability is also accessible by the bank’s institutional clients.
Eligible clients will be able to buy, sell and custodise the yellow metal through OCBC and store their holdings in a Singapore-based vault. This will include two sizes of gold bars – large bars weighing around 400 troy ounces or 12.4 kilograms and smaller bars of 1 kilogram.
Clients will be able to own specific bars identifiable by serial number rather than just a stake in a pooled reserve. Previously, Bank of Singapore clients transacted physical gold through a US-based entity.
UHNW demand
According to Bank of Singapore, client holdings in physical gold have increased by more than 40% since the end of 2025 with the ultra-high-net-worth segment accounting for the vast majority of this growth. The bank also notes “a growing desire not only to hold bullion locally but also to transact with Singapore-based entities amid heightened geopolitical tensions and macroeconomic uncertainty”.
“Gold has long played a strategic role in wealth preservation, particularly for ultra-high-net-worth clients with long-term, intergenerational objectives. Amid market volatility and geopolitical uncertainty, these clients are thinking more deeply about who they transact with, and where their gold is stored,” said Bank of Singapore CEO Jason Moo. “By leveraging OCBC Group’s strengths, we will be able to deliver a secure, trusted and differentiated physical gold offering that addresses our clients’ risk concerns.”
The new gold offering is part of broader efforts from OCBC’s “Next Frontier” corporate strategy to deepen its “whole-of-wealth value proposition” across banking, wealth management and insurance.
