Is Singapore the New Switzerland? Why the Ultra-Rich Are Stashing Gold in the Lion City

SINGAPORE, May 31, 2025 - Singapore is rapidly emerging as a premier destination for the ultra-rich to store their gold, with a state-of-the-art facility known as The Reserve near Changi Airport now safeguarding precious metals worth $1.5 billion.

This six-story fortress, equipped with cutting-edge security and thousands of safe deposit boxes, has become a beacon for wealthy investors seeking safety amid rising global uncertainties.

The surge in demand for physical gold storage reflects a broader shift among the elite, who are increasingly prioritizing control and security over traditional paper assets.

A Surge in Gold Storage Demand

The Reserve has reported an 88% increase in demand for gold and silver storage from January to April 2025 compared to the same period in 2024, according to its founder, Gregor Gregersen.

Sales of physical gold and silver bars have also skyrocketed, with a 200% year-on-year increase, driven by gold’s status as a safe-haven asset.

Gold prices, which hit historic highs earlier this year amid U.S.-China trade tensions and a sell-off of U.S. assets, are currently hovering around $3,346.32 per ounce. Analysts project prices could climb to $5,000 by 2026, fueled by ongoing geopolitical risks and inflationary pressures.

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Why Physical Gold?

The ultra-rich are increasingly turning to physical gold to shield their wealth from counterparty risks tied to paper assets like ETFs or pooled reserves. The collapse of Silicon Valley Bank in 2023 underscored the vulnerabilities of financial institutions, prompting investors to seek direct ownership of tangible assets.

Physical gold, stored in secure vaults, offers a hedge against banking failures, currency devaluation, and global instability, making it a cornerstone of wealth preservation strategies.

Singapore’s Rise as the “Geneva of the East”

Singapore’s appeal as a gold storage hub lies in its unusual combination of political stability, robust legal protections, and world-class infrastructure. Often dubbed the “Geneva of the East,” the city-state offers a neutral, secure environment that rivals traditional wealth havens like Switzerland.

Financial analyst Jeremy Savory notes that Singapore’s strategic location as a global transit hub enhances its edge, allowing investors to store and retrieve their gold with ease.

Unlike Switzerland, which is facing increased regulatory scrutiny, Singapore’s streamlined processes and non-bank storage options reduce systemic risk, making it a preferred choice for the elite.

Did You Know?
Singapore’s gold storage industry benefits from the city’s strict anti-money laundering laws and its status as one of the world’s least corrupt nations, ranking 5th on the Corruption Perceptions Index in 2024.

A Safe Haven in Uncertain Times

As fears of inflation, banking instability, and global conflicts persist, Singapore’s role as a trusted gold storage hub continues to grow. According to the World Gold Council, investors are increasingly choosing non-bank vaults as a risk diversification strategy, with Singapore spearheading this trend.

For the ultra-rich, wealth storage is no longer solely about returns but about trust, control, and accessibility. Singapore’s ability to deliver on all three fronts positions it as a formidable contender in the global wealth preservation landscape.