Singapore investor gold demand rises 48% to 9.6 tonnes in 2025

World Gold Council data shows record investment interest.

Singapore investor demand for gold rose 48% YoY to 9.6 tonnes in 2025, the highest on record, according to the World Gold Council’s (WGC) Gold Demand Trends report.

The WGC report showed global gold investment demand climbed 84% to 2,175 tonnes in 2025, with investors driving the strongest annual total in the Council’s data series.

Exchange-traded funds accounted for a significant share of inflows, supported by increased holdings in Asian funds, while bar and coin purchases also contributed to the rise in physical gold demand.

In Singapore, gold jewellery consumption fell 13% YoY in 2025, marking one of the lowest annual levels on record, the WGC data indicated.

The Monetary Authority of Singapore sold 15 tonnes of gold in 2025, bringing its total gold holdings to 205 tonnes, the report said, underscoring divergent trends between private investor purchases and official sector holdings.

Globally, total gold demand in 2025 reached an all-time high of about 5,002 tonnes driven by investment flows, even as central bank purchases declined from prior years.

The WGC said ongoing economic and geopolitical uncertainty, together with strong price momentum, continued to support investor interest heading into 2026.

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