Singapore has witnessed the establishment of several bullion shops over the past decade ever since the financial crisis of 2008 when investors moved away from stocks and renewed their interest in precious metals investment. Quite interestingly, this situation has persisted till today despite the plunge in PM prices since the last quarter of 2011. To date, gold has plummeted at least 23% and silver 48% since their 2011 peaks.
Currently, there are at least 8 bullion shops in Singapore. All sell gold and silver bars/coins and all offer buyback option. A few of them even offer vault storage options. My personal favourite is DK Bullion (formerly known as SIR). In fact, I got to know about this bullion shop only a few months back when I chanced upon one of their outlets at Liang Court. What struck me was that the bullion bars were sold alongside female shoes and apparels! I later learnt that their boss was into ladies' shoes retail business and bullion was a side business. However, I also discovered that they typically offer the lowest (online) premiums for most of the bullion products they are selling. Further, their online website offers the possibility of locking prices so you can make purchases at the current spot prices 24/7.
But then again, prices are always negotiable. I learnt from at least 2 other bullion shops that if you discover you can purchase a certain product cheaper elsewhere, they are more than willing to match prices. Surprised? Not really. It just shows that competition in this precious metals business is heating up. Here, I shall enumerate the 8 bullion shops in Singapore with corresponding addresses, opening hours and locations. And you certainly notice that some of these sellers have decided to name their companies using 'silver' as a keyword. This demonstrates the increasing popularity and tremendous potential of silver as an investment (compared to gold) over the last decade.
18 Cross Street,
#01-24 China Square Central,
Monday to Friday: 10am to 5.45pm
Saturday: 10am to 12.45pm
Sunday and Public Holidays: Closed
Tel:  6222 9703/  6222 9721
45 New Bridge Road
Monday - Thursday: 11 am to 7 pm
Friday: 11 am to 5 pm
Saturday: 10 am to 2 pm
Closed on Sundays and Public Holidays
Contact: +65 6284 GOLD (6284 4653)
Degussa Precious Metals Asia Pte Ltd.
22 Orchard Road #01-01
Monday – Friday: 10.30 am to 6.30 pm
Saturday and PH: 11.30 am to 5.30 pm
Closed on Sunday
Phone +65 6804 5080
Comparison of prices for the most popular bullion products
|Online Price||Dk Bullion||1silver1||GSC||Bullion Star||SilverAG||Silver Bullion|
|2015 Canadian Maple Leaf 1oz Silver Coin||25.96||25.45||26.23||25.66||25.32||27.03|
|2015 Canadian Maple Leaf 1oz Gold Coin||1597.08||1630.98||1601.67||1602.36||1601.59||1616.96|
|100 grams Pamp Suisse Gold Bar||5037.10||5146.05||5040.57||5047.08||5044.03||-|
|1 Kg Nadir silver bar||725.96||765.82||-||755.72||750.15||763.53|
|1 Kg Metalor silver bar||761.94||783.60||768.19||763.68||753.74||-|
†The above prices were extracted from the websites of the vendors on 13 Nov 2015 from 12am to 12:20am. Red colour indicates the lowest price for that particular product.
Disclaimer: the online quoted prices are only indicative. As mentioned, some of these bullion sellers are willing to negotiate the prices if you tell them you can get them cheaper elsewhere. I have no vested interest with any of these bullion sellers and the above article is a matter of personal opinion.
This book is about the prominent role silver will play in the return to metal as money. This is not a book about some predictive financial philosophy, but rather a frank, no-excuses glimpse at the current state of things, and an honest, candid, look at logical outcomes. The prestidigitations of central banking, which have until recently been shielded from scrutiny by a cloak of pro-banking cultural bias, are laid bare within these pages. Intimidating and complex financial and historical connections, no matter how deep down the rabbit hole they first may seem to be, are plainly exposed by the application of good strong light and close inspection.
Mike Maloney is the author of Guide to Investing in Gold and Silver, part of Robert Kiyosaki's"Rich Dad's Advisors" series of books. Mike is the precious metals investment advisor to Robert Kiyosaki, author of the most successful financial book in history, Rich Dad, Poor Dad. Their partnership began in 2005, and since then they have been educating the public on the merits of precious metals investing as a means to wealth generation.
Since 2002, Mike has specialized in education on monetary history, economics, and financial literacy. He is widely regarded as an expert on economic cycles and has demonstrated to audiences throughout the United States that economic cycles are real, and that investing correctly for each phase of the economic cycle is a road to true wealth.