US traders’ gold rush sparks Singapore’s bullion boom

SINGAPORE’S gold exports to the US have surged as traders there scramble to secure physical supply, driven by fears of trade disruptions and the Republic’s status as one of the few trade partners with zero US tariffs on the yellow metal in any form.

In January alone, Singapore shipped 11.3 tonnes of gold to the US – a volume that nears last year’s total; it already represents 77 per cent of the city-state’s total gold exports to the US in all of 2024.

That single-month shipment also made up more than half of Singapore’s total gold exports worldwide for January, indicated figures from Trade Data Monitor seen by The Business Times.