Mounting global uncertainties, fueled in part by U.S. tariff policies under former President Donald Trump and persistent geopolitical tensions, are prompting the world’s ultra-wealthy to seek safe havens for their wealth — with physical gold once again taking center stage.
Singapore, renowned for its political stability and robust financial infrastructure, has become a focal point for this growing trend, with affluent investors increasingly storing gold in high-security private vaults. At the forefront is “The Reserve,” a state-of-the-art precious metals facility that has seen a sharp spike in demand.
Dramatic Uptick in Gold Orders
Gregor Gregersen, founder of The Reserve, revealed that from January to April this year, orders for gold and silver storage increased by 88% compared to the same period in 2024. Sales of bullion bars — including both gold and silver — have also surged, rising 200% year-on-year.
“Many high-net-worth individuals are deeply concerned about tariffs, global instability, and broader geopolitical shifts,” said Gregersen. “There is a clear trend toward storing physical metals in jurisdictions perceived as secure — and Singapore is now a top choice.”
Roughly 90% of the new orders for storage came from international clients, according to Gregersen.
A Fortress for Precious Metals
The Reserve spans a sprawling 180,000 square feet and stands 32 meters tall. It boasts advanced security technology and can accommodate up to 10,000 metric tons of silver and 500 metric tons of gold. With six floors dedicated to storage, some industry commentators have noted that its capacity could significantly influence global precious metals logistics.
Gold Prices Soar Amid Demand Surge
Gold prices have experienced substantial gains in recent months, driven by investor demand in the face of geopolitical strife. While prices dipped slightly following a temporary easing in U.S.-China trade tensions, some analysts forecast prices could reach as high as $5,000 per ounce by next year.
Wealthy individuals are increasingly favoring physical gold over financial instruments such as exchange-traded funds (ETFs) or futures contracts, often referred to as “paper gold.” While physical bullion still carries market risk, it provides a level of control and certainty not afforded by paper claims.
Shift Toward Direct Ownership
Jonathan Rose, CEO of Genesis Gold Group, noted a marked rise in clients requesting physical delivery of gold. According to Rose, the proportion of clients insisting on holding tangible bullion has risen from 20% in previous years to around 70% today.
Analysts attribute this shift to the distinct advantages of physical gold ownership. Unlike other investments, physical gold has no counterparty risk, meaning investors retain full ownership and control of their assets. It also offers greater privacy, appealing to those seeking to shield wealth from regulatory or institutional exposure.
Nicky Shiels, Head of Metals Strategy at MKS PAMP, cited the 2023 collapse of Silicon Valley Bank as a turning point. The crisis, she said, reminded investors of the potential vulnerabilities in the financial system and pushed them toward tangible assets.
John Reade, Chief Market Strategist at the World Gold Council, echoed this sentiment.
“Some investors are increasingly wary of storing gold within the banking system, even in allocated accounts,” Reade said. “As a result, they are turning to private vaults and non-bank entities to store their physical assets.”
As global financial and political uncertainty shows no signs of abating, the flight to physical gold — and to secure storage locations like Singapore — appears poised to continue.
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