OCBC will begin offering physical gold trading and storage services to its institutional clients and high-net-worth customers of its private banking arm, Bank of Singapore, starting June 10, 2026 [1, 2, 3, 4].
Clients can purchase individually allocated and serial-numbered gold bars in sizes of 1 kilogram and 12.4 kilograms (approximately 400 troy ounces), which are preferred by Asian and international markets respectively [1, 2, 3, 4]. Previously, Bank of Singapore clients transacted physical gold through a U.S.-based entity but will now be able to transact directly via OCBC in Singapore [1, 2, 3, 4].
Gold bullion holdings among Bank of Singapore clients have grown more than 40% since the end of 2025, with the majority held by ultra-high-net-worth individuals [1, 2, 3, 4]. Rising geopolitical tensions and economic uncertainty have increased client preference for holding and trading bullion locally in Singapore [1, 2, 3, 4]. OCBC’s entry adds to local availability, where before only UOB offered physical gold and silver trading services [1, 3].
Kenneth Lai, head of global markets at OCBC, called the new services a “strategic expansion” of the bank’s market-making capabilities in precious metals [1]. He added, “While we have started with institutional and private banking clients, over time we are looking to expand to other client segments and offer them a comprehensive range of physical gold investment and hedging solutions” [3].
OCBC also offers paper gold and silver investments through its Precious Metals Account, with transactions from 0.01 ounce upwards, along with gold exposure via funds and insurance products [1, 3, 4].
World Gold Council data shows global gold bar demand rose nearly 50% year-on-year in the first quarter of 2026, reflecting strong investor interest [2, 4]. In March 2026, the Monetary Authority of Singapore and Singapore Bullion Market Association announced plans to boost Singapore's physical gold market position [1, 3].
The official launch of OCBC's physical gold trading services is scheduled for June 10, 2026, marking a significant expansion of offerings for its institutional and private banking clients in Singapore [1, 2, 3, 4].
