The Oversea-Chinese Banking Corporation (OCBC) in Singapore is broadening its precious metals sector by introducing physical gold trading and storage services for institutional investors and private banking clients. OCBC perceives an increasing demand for safe-haven assets as geopolitical and economic uncertainty heightens.
Initiating from June 10, OCBC’s institutional clients and affluent clients of its private banking division, the Bank of Singapore, will be granted the opportunity to purchase, trade, and store physical gold via OCBC, with the entire trading and custodial process based in Singapore.
This decision signifies a considerable amplification of the bank’s gold franchise beyond its current paper gold offerings. The move comes as investors’ hunger for physical bullion continues to grow. According to OCBC’s reference to data from the World Gold Council, the global demand for gold bars in the first quarter of 2026 experienced a 50% surge compared to the previous year. The Bank of Singapore disclosed that client holdings of physical gold have witnessed an increase of more than 40% since the conclusion of 2025.
OCBC has stated that the new service will initially provide two forms of bullion: large bars weighing roughly 400 troy ounces (12.4 kilograms) and one-kilogram bars, both allocated to clients and individually identifiable through serial numbers.
The bank has indicated that client demand has progressively gravitated towards local custody arrangements. Previously, Bank of Singapore clients conducted transactions in physical gold via a U.S.-based entity. With the new arrangement, clients can carry out transactions and store bullion entirely within Singapore.
This introduction mirrors wider efforts by Singapore’s financial industry to fortify its stance as a regional precious-metals hub. OCBC expressed intentions to explore the extension of physical gold products and related hedging solutions to additional client segments over time.
The move also forms part of OCBC’s more extensive wealth management strategy. Over the past few years, the group has continuously expanded its gold-related offerings across its banking, asset management, and insurance industries.
Kenneth Lai, Head of Global Markets at OCBC, expressed that the bank perceives physical gold as a natural extension of its existing precious-metal capabilities and is planning to widen access to the offering over time.
What new services is OCBC introducing?
OCBC is introducing physical gold trading and storage services for institutional investors and private banking clients.
What does this expansion mean for OCBC’s existing services?
This expansion signifies a considerable amplification of OCBC’s gold franchise beyond its current paper gold offerings.
What is the impact of this move on Singapore’s financial industry?
This introduction mirrors wider efforts by Singapore’s financial industry to fortify its stance as a regional precious-metals hub.
