OCBC, UOB see surge in gold investments as glint catches eye of younger investors

• Gold up 16 per cent in the year to date
• OCBC: One in six of all digital investments are in precious metals
• UOB: Younger investors allocating more AUM to gold

YOUNGER retail investors in Singapore are turning to gold as an affordable investment in times of uncertainty, market players have said. In particular, the younger crowd are also looking at digital gold investments.

Spot gold prices have held steady at higher end of US$2,300 per ounce in June, before surging above the US$2,400 mark on Thursday (Jul 12). Prices hit US$2,401.37 per ounce as at 7.20 pm (Singapore time) on Friday.

Prices are up more than 16 per cent in the year to date.