Singapore has increasingly become a top destination for those wishing to safely store their gold as geopolitical and economic uncertainty continues to bolster interest in the precious metal. One facility has, in particular, caught the attention of the uber-wealthy. The Reserve, as it is referred to, is a secure vaulting facility located just a few kilometers from the Singapore Changi Airport.
The facility has many private vaults as well as thousands of safe deposit boxes and is fortified by tight security. It is estimated that its precious metals repository holds gold and silver bars valued at about $1.5 billion.
Gregor Gregersen, the founder of the facility, reveals that between January and April 2025, the facility recorded an 88% surge in orders to store silver and gold as compared to the same period last year. Nicky Shiels, Head of Metals Strategy at MKS PAMP, argues that this could be because many regard Singapore to be a safe jurisdiction with relative economic and political stability.
The Southeast Asian country is also a key transit hub, which makes it a convenient place for the affluent to store their precious metals. This surge in interest is also reflected in rising sales for gold and silver bars, which have hit 200% year-on-year.
In an interview, Gregersen explained that 90% of new orders were from foreign investors, noting that geopolitical instabilities and Trump’s U.S. tariffs were driving this surge. Gold has performed exceptionally well these last couple of months, partly fueled by an increase in safe haven demand for the metal as a result of United States-China trade tensions.
Spot gold is currently trading at $3,346.32 per ounce.
In addition to this, Gregersen revealed that most parties were ditching paper in favor of owning physical gold bars as it limited exposure to counterparty risks that paper gold carries. Experts maintain that directly owning an asset lowers one’s counterparty risks.
John Reade, chief market strategist at the World Gold Council, explained that holding gold in non-financial institutions was preferred by some investors particularly those who were worried about the global financial system’s health. However, he continued, this wasn’t an attractive option for short-term investors given that the costs incurred by purchasing and moving physical gold were significantly higher than that of paper gold.
Millionaire Migrant founder Jeremy Savory posits that insufficient trust in domestic banks may be another driver of this shift. Furthermore, he compares Singapore and Switzerland, noting that the Asian country’s being a transit hub makes it easier for many to store and access their precious metals as compared to the European country.
Entities like Torr Metals Inc. (TSX.V: TMET) engaged within the gold extraction value chain will take an interest in these changing preferences for where gold is stored as this could provide some pointers to the trajectory of the asset’s leading buyers in years to come.
NOTE TO INVESTORS: The latest news and updates relating to Torr Metals Inc. (TSX.V: TMET) are available in the company’s newsroom at https://ibn.fm/TMET
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