Where to buy Gold in Singapore?
Buying Gold in Singapore is popular among the Indian community living in Singapore and tourists (or) short term visitors from India. Singapore is one of the best places in the world to buy Jewels, Gold coins and Gold bars.
Top 6 Reasons
- Rates are cheaper compared to India
- Tourists and short term visitors can claim refund of GST at participating shops under Tourist Refund scheme
- Perception of quality is high, due to Singapore’s stricter regulations
- No wastage charged (Jewelers in India usually charge wastage)
- No Making Charge jewels are available (@Mustafa – limited collection only)
- Interest free EMI options available on most credit cards from many Jewelers
Gold Attracts prevailing GST which at the time of writing is 8% in 2023-April (increasing to 9% in 2024).
Where to buy Physical Gold
Gold can be bought from multiple trustworthy sources in Singapore
You can buy Gold from Jewelers in and around Little India and Farrer Park where most of the outlets are located. Here is a list of Jewelers we have curated.
Gold coins and bars can be bought from bullion shops in retail or wholesale.
Pawn shops sell used gold and are a better alternative at a cheaper price as against new gold which may attract heavy Goods and Service Tax (GST) and making charges.
Necklace buying guide
Collar (12 inches), Choker (16 inches), Princess (18 to 20 inches), Matinee (21 to 22 inches) and Opera (> 23 inches)
Rings buying guide
Ring Size Guide
Bracelets buying guide
Earrings buying guide
Bangles buying guide
Gold Jewellery buying guide
Gold EMI scheme
Gold can be bought on schemes by making smaller monthly payments with the Jewelers. A typical scheme will include paying for 11 months while the 12th month is given as a bonus which can usually be used to offset the making charges.
Today’s Gold Rate
Today’s Gold Rate can be checked from this link.