Gold has been on quite a ride in 2025. From around US$2,600/oz at the start of the year to more than US$4,000 today. It has once again captured global attention.

And yes, Singaporeans jumped right in.

Just before the correction, we literally saw queues forming at UOB branches as people lined up to buy physical gold bars. Online forums Reddit users said that people queue “from 9.40 am till about 12pm” to buy gold, and there is a limit to how much an individual can buy. According to a Straits Times article, in the first nine months of 2025:

• Gold Savings Account purchases jumped 65%
• Physical gold purchases rose 42%

Across the region, retail investors in China, Thailand, Vietnam and Malaysia also crowded jewellers. The Straits Times ran a piece: “Soaring gold prices draw crowds of buyers, sellers to KL jewellers.”

So if you’re feeling a mix of fear, FOMO, and confusion, you’re definitely not alone.

But before you buy anything shiny, let’s take a step back and understand what we’re dealing with. In this article, let me walk you through how to think about gold properly and how to choose the right way to invest, without hype or fear.

I’ll also share an update on something new, LionGlobal Singapore Physical Gold Fund, the first MAS-authorised gold bullion fund that invests in fully allocated, fully insured physical gold vaulted entirely in Singapore.

Why Gold Matters

If you strip away the myths, conspiracies and Reddit threads, gold is actually very simple.

Gold has always been valuable — across cultures, across centuries, across every financial system. We’ve used it as currency, jewellery, and even in electronics such as your smartphone and laptops.

In investing, gold plays a very specific role. When the world feels uncertain — markets fall, currencies wobble, tensions rise — gold becomes the anchor people run to.

And 2025 has been full of uncertainty:

• Tech stocks are correcting after years of explosive growth
• Geopolitical conflict from Russia–Ukraine to Israel–Gaza and now the rising tension between Japan and China
• Central banks quietly accumulating more gold
• Investors are questioning the US debt and the credibility of the US dollar

In other words, the perfect recipe for a gold rush.

Should I Buy Gold Now?

Naturally, many investors ask:

Should I buy gold now? And if so, how?”

I hear this question a lot — and I know where this is going:

Gold investing can feel like faith… or even obsession. And just like how Singaporeans approach property, people who ask “should I buy?” usually mean “I’m already convinced — unless you can give me a reason not to.”

These are the so-called “gold bugs” — people who believe gold is the ultimate form of money, wealth, and protection. Their trust in gold is almost unshakeable.

On the other end, we have the Buffett camp — people who argue that gold produces nothing, pays no dividends, and simply sits there. They write off gold at first sight.

So who is right?

The Truth About Gold Investing

Opinions about gold are extremely divided. But here’s the part most people don’t talk about:

Gold, just like any other asset, is not a magical instrument.

It goes up. It comes down. And unlike companies, gold doesn’t grow, innovate, or generate cash flow.

Its value comes from stability, not from progress.

So if you’re thinking of gold as a get-rich-quick investment… You’re already starting from the wrong place.

But if you’re thinking of gold as a stabiliser or diversifier in your portfolio? It is no less volatile. Remember the recent 10% correction that I warned about just days before it happened?

Misunderstanding this is how many investors get hurt.

Having survived in the financial market for more than two decades, I have seen many.

I am not sure if you have heard of the “sure-win” gold scandal like Genneva Gold and Gold Label, which collapsed spectacularly.

In 2020, Genneva Gold claimed to sell physical gold with “guaranteed” monthly payouts of 1.5%–3%. Thousands of Singaporeans bought into it because the scheme looked safe — after all, it involved real gold.

But behind the scenes, Genneva wasn’t earning money from gold trading. Instead, it was using new investors’ money to pay earlier investors, operating like a disguised Ponzi scheme. Ultimately, it was revealed that Genneva didn’t have enough gold or cash to meet its obligations.

You may think this is such an obvious scam, but when authorities raided the company, over 10,000 investors across Singapore and Malaysia were affected, with more than S$180 million involved.

Even if you invest in a legitimate Gold ETF, how many of you noticed the 2011 gold crash that took almost a decade to recover from.

This is not to say you shouldn’t invest in gold. But you need to shift your focus from “should I buy gold?” to “when and how should I buy gold?”

How Can You Actually Invest in Gold in Singapore?

This is where most people make mistakes. They think gold is gold — but not all gold investments are created equal.

Let me give you the big picture, in plain English.

1. Physical Gold (jewellery, bars & coins)

– The most traditional (and most romantic) way to own gold — you feel the weight, see the shine, and hide it in your safe… but it comes with storage, insurance, liquidity issues, and sometimes GST.

2. Gold Savings Accounts

– Like topping up money into your bank account, except your balance is in grams of gold. Convenient, liquid, but you do not own any specific bar.

3. Gold ETFs

– A simple, low-cost way to get gold exposure without touching physical metal. Great for liquidity — just make sure the ETF holds real gold, not miners or derivatives.

4. Gold Bullion Funds

– Professionally managed, fully allocated physical gold held in institutional vaults under MAS regulation. No storage or insurance hassle. (I will talk more about this later)

5. Gold Mining Stocks

– You’re buying companies that mine gold — not gold itself. Their performance depends on management, costs, and operations.

6. Gold Forex (XAU) Trading

– Gold traded like a currency (XAU/USD, XAU/SGD). Potentially higher returns, but much higher volatility. Suitable only for traders who understand forex.

The Challenge With Physical Gold… And What Investors Really Want

Many Singapore investors tell me they prefer investing in physical gold, but:

• “I don’t want to worry about storage.”
• “I want safety, but not under my mattress.”
• “I want liquidity.”
• “I prefer owning gold in SGD.”
• “I don’t want USD currency risk.”

And I completely understand.

Physical gold is comforting… but also troublesome.

Fortunately, modern gold solutions are evolving. One very interesting development is now available in Singapore: A fund that holds fully allocated, fully insured physical gold, stored entirely in Singapore, under MAS oversight.

• Real gold.
• Real vault.
• Real regulation.
• And you can buy in SGD

This structure didn’t exist a decade ago. But today, it makes a lot of sense for Singapore investors.

Join My Live Webinar to Learn: “The Truth About Gold Investing”

If you’ve been wondering:

• What happened in the past gold cycles?
• Should I buy gold now?
• What type of gold is suitable for me?
• How much gold should I hold?
• Is physical gold better than ETFs?
• What’s the right way to fit gold into my portfolio?

Then you should join our upcoming Webinar, “The Truth About Gold Investing”.

This is a No-Hype, No-Fear or FOMO Discussion about Gold Investing for Singapore Investors.

Why do I say so?

As a private wealth adviser specialising in retirement planning, portfolio construction, and evidence-based investing, I’ve spent more than two decades helping Singapore investors build portfolios that balance dependable income with long-term growth.

In this webinar, I’ll share a clear, professional perspective on where gold fits in a modern portfolio, and most importantly, how to choose the gold investment approach that best matches your goals.

LionGlobal Singapore Physical Gold Fund

We’ll also have the fund manager, LionGlobal Investors, sharing insights of the newly launched LionGlobal Singapore Physical Gold Fund — the first MAS-authorised gold fund backed by fully allocated, fully insured physical gold vaulted entirely in Singapore.

You’ll hear directly from the team behind the fund — how it works, who it’s for, and how it compares to the other gold options.

Register for the Webinar to secure your seat!

If you found this article useful…

If you enjoyed this article — or if you know someone who’s been asking whether they should buy gold, share it with them. It might save them from making an emotional or rushed decision.

If you’d like more insights on investing and retirement, you can also join my Retire Rich Weekly mailing list or subscribe to my Telegram channel.

In a world full of noise and hype, wisdom is your real gold. Invest it well.