This guide explains how the gold price in Singapore is calculated, which karat to buy, and where to buy gold in Chinatown, Little India and the city’s bullion shops. First: there is no separate Singapore gold price. Gold trades at one global price per troy ounce, converted into Singapore dollars at the live USD/SGD rate. When the price moves, it is because the global spot price moved, the Singapore dollar moved against the US dollar, or both.
How the gold price in Singapore is calculated
The calculation has two parts. First, the global spot price: gold is traded worldwide at one price per troy ounce in US dollars. One troy ounce is 31.1034768 grams — not an ordinary ounce. Divide it by 31.1034768 for the price of one gram of pure (24K) gold in dollars.
Second, the exchange rate: that dollar price per gram is converted into Singapore dollars at the live USD/SGD rate, giving the gold price per gram in Singapore — and the karat fraction gives the price for lower karats: 916 gold is 22/24 pure, so its price per gram is 22/24 of the 24K price.
That is how the Gold Price in Singapore page on ToolZana works: it converts the live USD spot gold price from AlyawmGold at the live SGD exchange rate, and shows the price per gram, per troy ounce and per kilogram in SGD. The prices are the raw spot rate before dealer commission and workmanship charges.
The Singapore dollar and the units gold is quoted in
Because the Singapore price is a conversion, the exchange rate matters as much as the gold market: if the Singapore dollar weakens against the US dollar, the gold price in Singapore rises in SGD even when the global gold price is flat, and if the Singapore dollar strengthens, the price falls. Always check the live rate on the day you buy or sell.
In Singapore, gold is quoted per gram in SGD; the international spot price is quoted per troy ounce (31.1034768 grams). The tola (11.6638 grams) is not used by Singapore shops — it is common in South Asia and the Gulf, so use the Gold Price per Gram, Tola and Ounce Converter to compare quotes in different units: a per-tola price and a per-gram price cannot be compared directly.
Karats in Singapore: 916 for jewellery, 999 for investment
In Singapore, 916 gold is the dominant jewellery grade. 916 means 91.6% pure gold — the same as 22 karat — and it is the standard for wedding jewellery, including the traditional Chinese wedding set known as Si Dian Jin, as well as everyday chains, bangles and rings. Most jewellery sold in Singapore shops is 916 gold — hard enough for everyday wear, and easy to resell because buyers know exactly what it is.
For investment, the grade is different: 999 gold — 24 karat, 99.9% pure — is mainly sold as bars and coins, not as everyday jewellery, because it is softer and scratches more easily. Investment bars are also sold as 999.9 gold (24K, 99.99% pure). For pricing, 24K is the reference: the price for 916 follows from the karat fraction (22/24).
Use the Gold Weight and Purity Calculator to check how much pure gold is in a piece: enter the weight and karat and it gives the pure-gold weight. As a hypothetical example, a 10-gram piece of 916 (22K) gold holds 9.1667 grams of pure gold; a 10-gram piece of 999 (24K) gold holds 9.99 grams. Jewellers and scrap buyers work on the pure-gold content, so this is the number that matters when you sell.
Singapore shops also sell 18K (750) gold, mostly for diamond-set and contemporary jewellery, but 916 is the grade most buyers ask for first.
Where to buy gold in Singapore
Singapore has three distinct places to buy gold: the goldsmiths’ floors of People’s Park Complex in Chinatown, the jewellery row of Little India on Serangoon Road, and the bullion dealers and bank counters in the city centre for investment bars and coins.
People’s Park Complex, Chinatown — the main gold district
People’s Park Complex, at 1 Park Road in Chinatown, is Singapore’s main gold district — floor after floor of goldsmiths selling 916 and 999 jewellery side by side, along with gold bars and coins. It is the place to go for Si Dian Jin wedding sets, and for comparing workmanship charges across many shops in one building. The complex is next to Chinatown MRT station.
Named shops include Chung Hwa Jade & Jewellery (1 Park Road, #02-82K, People’s Park Complex, Singapore 059108), known for 916 and 9999 gold jewellery; Jin Heng Goldsmiths (1 Park Road, #02-39, People’s Park Complex, Singapore 059108), which sells gold bars and coins from 1 gram upwards, including PAMP and Argor bars, and also buys old gold; Kim Heng Jewellers & Goldsmiths (1 Park Road, #01-40/41, People’s Park Complex, Singapore 059108), in business since 1979, specialising in 916 and 999 gold jewellery and absorbing the 9% GST on its items; and Poh Heng Jewellery (#01-17, People’s Park Complex, Singapore 059108), a heritage brand with more than 77 years in the trade, whose pieces carry the lion’s head hallmark, Singapore’s official purity mark certified by the Singapore Assay Office. View People’s Park Complex on Google Maps.
South Bridge Road runs through the same Chinatown area, so the goldsmiths along it and in the surrounding shophouses are part of the same district — but the concentration of shops is inside People’s Park Complex itself.
Little India, Serangoon Road — traditional Indian designs
Little India, along Serangoon Road near the junction with Syed Alwi Road, is Singapore’s other gold district, specialising in gold jewellery in traditional Indian designs — temple jewellery, bridal sets, bangles and chains in 916 and 999 gold.
Named jewellers include Mustafa Jewellery (5 Verdun Road, #01-01, SPA Building, Little India), founded in 1986, selling 916/22K and 999/24K gold, diamond and gemstone jewellery at fixed prices with no bargaining; Joyalukkas (412 Serangoon Road, Little India, and a second showroom at 320 Serangoon Road, Centrium Square), a large international chain selling gold and diamond jewellery as well as gold coins; and Malabar Gold and Diamonds (114 Syed Alwi Road, Little India), another major international chain, which lists its making charges and stone weights transparently on its price tags. The Mustafa Centre department store at 145 Syed Alwi Road anchors the same streets. View Little India, Serangoon Road on Google Maps.
BullionStar and UOB — investment gold in the city centre
For investment bars and coins rather than jewellery, two names dominate. BullionStar runs Singapore’s best-known bullion shop, showroom and vault at 45 New Bridge Road, Singapore 059398, beside Clarke Quay MRT station — walk-ins are welcome, no appointment is needed, and the shop is open 11:00 AM to 7:00 PM daily. You can view, buy, sell and store gold and silver bars and coins there, and pay by cash, PayNow, NETS or card. View BullionStar on Google Maps.
UOB is the main bank selling physical gold in Singapore: gold bars and coins are sold at the Gold Counter at UOB Main Branch in Raffles Place, and through UOB Personal Internet Banking with collection in person. Buying physical gold from UOB is by appointment only, and only existing UOB Singapore account holders can buy. UOB also runs a Gold Savings Account for buying and selling gold in grams without taking physical delivery, with a minimum transaction of 5 grams. Physical gold bought from UOB is exempt from GST. View UOB Main Branch on Google Maps.
Tax on gold in Singapore
Tax is one of the reasons Singapore is attractive for gold buyers, but the treatment depends on what you buy. GST (Goods and Services Tax) is 9% and it applies to gold jewellery: the shop adds GST on top of the metal value and workmanship, unless the shop absorbs it — several Chinatown goldsmiths, including Kim Heng and Chung Hwa, absorb the GST themselves, which is why their prices are often quoted as GST-inclusive.
Investment-grade gold is different: gold of at least 99.5% purity — investment precious metals such as bars and coins — has been exempt from GST since 1 October 2012. That means a 999 or 999.9 gold bar or coin bought from BullionStar or UOB carries no GST at all, while jewellery never qualifies for this exemption.
Singapore also has no capital gains tax, so a profit made on selling gold is not taxed as a capital gain. That applies whether you sell jewellery back to a goldsmith or sell an investment bar to a dealer.
What you will actually pay in a Singapore shop
The price on the Gold Price in Singapore page is the raw spot rate. The price you pay in a shop is usually higher — shops add workmanship charges and their margin, and GST on jewellery where it is not absorbed. That is the part of the price you can actually negotiate: the spot price is the same for everyone, but workmanship charges vary a lot from shop to shop — and in People’s Park Complex they vary a lot between neighbouring shops.
So compare the total price of the same piece in two or three shops, not just the per-gram rate. Work out the metal value first with the Gold Value Calculator — enter the weight and karat and it gives the metal value at the live spot price, before dealer charges. The difference is what you are paying for craftsmanship, brand and the shop itself. Price 916 jewellery against the live 24K rate using the karat fraction (22/24).
Buying tips for Singapore
- Check the live price on the day you buy, and value the piece first with the Gold Value Calculator.
- Compare workmanship charges across two or three shops — in People’s Park Complex the shops are side by side, and bargaining on workmanship is normal there.
- Check the hallmark and karat — 916 gold is usually stamped 916 or 22K, and 999 gold is stamped 999. Look for the lion’s head hallmark, Singapore’s official purity mark.
- Check the pure-gold content with the Gold Weight and Purity Calculator — stones, clasps and springs add weight without adding gold.
- Ask whether GST is included or absorbed — on jewellery, 9% GST applies unless the shop absorbs it, while investment-grade gold of at least 99.5% purity is GST-exempt.
- Match the district to the purchase: People’s Park Complex in Chinatown for the widest choice and Si Dian Jin sets, Little India for traditional Indian designs, and BullionStar or UOB for investment bars and coins.
- For bars and coins, compare the dealer premium over spot — smaller bars carry a higher premium per gram.
- Keep the receipt and certificate for resale.
For the live price, start at the ToolZana home page or the gold price in Singapore.
Frequently Asked Questions
What is the gold price in Singapore today?
The live gold price in Singapore is shown in SGD on the Gold Price in Singapore page, per gram, per troy ounce and per kilogram. Prices refresh about every 60 seconds.
How is the gold price in Singapore calculated?
From one global spot price per troy ounce in US dollars, converted into Singapore dollars at the live USD/SGD rate. Divide the spot price by 31.1034768 grams to get the price per gram in dollars, then convert at the live rate.
Why does the gold price in Singapore change when the US dollar moves?
Because the Singapore price is the dollar spot price converted into Singapore dollars. If the Singapore dollar weakens, the gold price in Singapore rises in SGD even when gold is flat — and if the Singapore dollar strengthens, the price falls.
Which karat of gold is best to buy in Singapore?
For jewellery, 916 gold (22K, 91.6% pure) is the standard — it is the usual choice for wedding sets, chains, bangles and rings. For investment bars and coins, 999 gold (24K, 99.9% pure) is the usual choice.
What is 916 gold in Singapore?
916 gold is 22-karat gold, 91.6% pure. It is the dominant jewellery grade in Singapore, used for most jewellery including Si Dian Jin wedding sets, and it is usually stamped 916 or 22K.
Where is the best place to buy gold in Singapore?
People’s Park Complex in Chinatown is the main gold district, with many goldsmiths in one building. Little India on Serangoon Road is the choice for traditional Indian designs, and BullionStar or UOB are the choice for investment bars and coins.
Is GST charged on gold in Singapore?
GST of 9% applies to gold jewellery, although some Chinatown shops absorb it themselves. Investment-grade gold of at least 99.5% purity — bars and coins — has been exempt from GST since 1 October 2012.
Is there capital gains tax on gold in Singapore?
No. Singapore has no capital gains tax, so a profit made on selling gold is not taxed as a capital gain.
What is the difference between the spot price and the shop price in Singapore?
The spot price is the raw market rate. Shops add workmanship charges and their margin, plus GST on jewellery where it is not absorbed, so the shop price is usually higher. Work out the metal value with the Gold Value Calculator first.
How do I calculate the value of my gold in Singapore?
Enter the weight and karat in the Gold Value Calculator: it gives the metal value at the live spot price, before dealer charges.