OCBC Bank Launches Direct Physical Gold Trading for High‑Net‑Worth Clients in Singapore

OCBC Bank has expanded its gold offering in Singapore by allowing corporate and private‑bank customers to purchase physical gold bars directly, moving beyond its existing paper‑gold service. The service, which began on 10 June, is open to the bank’s high‑net‑worth (HNW) and ultra‑high‑net‑worth (UHNW) clients through its private banking arm in Singapore. Clients can buy one‑kilogram bars or larger 12.4‑kilogram (400‑troy‑ounce) bars, each assigned a unique serial number that provides direct ownership rather than a pooled claim.

The move responds to heightened geopolitical tensions and economic uncertainty that have increased demand among affluent investors for locally stored gold. The new arrangement replaces a previous partnership with a U.S. firm for gold transactions. While storage and insurance fees may apply, the service gives clients the ability to hold and trade physical gold bars directly through OCBC in Singapore.