Singapore Gold ETF Guide 2026: How to Invest in Gold Through the SGX

Last updated: June 22, 2026

Summary

A Singapore gold ETF is a security listed on the Singapore Exchange (SGX) that tracks the spot price of physical gold and can be bought and sold like any stock through a regular brokerage account. The four main options for Singapore investors in 2026 are the SPDR Gold Shares, the abrdn Gold ETF, the Phillip Gold ETF, and the Lion-OCBC Gold ETF, each denominated in Singapore dollars for easy trading. Gold ETFs are popular because they give you exposure to gold without the storage and insurance costs of holding physical bullion, and Singapore does not tax capital gains for individuals on long-term holdings.

What Is a Gold ETF?

A gold ETF, or gold exchange-traded fund, is a fund that holds physical gold bullion and issues shares on a stock exchange that represent fractional ownership of that gold. Each share of a gold ETF is backed by a specific quantity of gold held in secure vaults by a custodian. The price of the ETF moves in line with the international spot price of gold, minus a small annual expense ratio charged by the fund manager.

When you buy one share of a Singapore gold ETF, you do not take physical delivery of a gold bar. Instead, you own a paper claim on a portion of the gold stored in vaults in London, Zurich, or Singapore. The ETF sponsor (such as State Street, abrdn, or Phillip Capital) is responsible for buying, storing, and auditing the gold. Most gold ETFs follow the London Bullion Market Association (LBMA) Good Delivery standard, which means the gold is at least 99.5 percent pure.

Mechanically, a gold ETF works in three steps:

• Authorized participants (usually large banks or market makers) deposit cash with the fund manager and receive shares, or deposit gold and receive cash. This keeps the ETF price in line with the spot price of gold.
• Investors buy and sell ETF shares on the exchange through any brokerage account that offers access to the SGX.
• Fund manager stores the gold with a custodian, charges an annual fee (the expense ratio), and may lend out some gold to generate extra income.

Because gold ETFs are traded on the exchange, you can use familiar order types such as limit orders, stop-loss orders, and market orders, and you can buy fractional lots in many cases.

Why Invest in Gold ETFs in Singapore?

Gold has been a store of value for thousands of years, but in a modern portfolio it serves three specific roles: a hedge against inflation, a hedge against currency depreciation, and a diversifier that behaves differently from stocks and bonds. Singapore investors have particular reasons to use a gold ETF rather than other forms of gold exposure.

Hedge against inflation and currency risk

Gold tends to hold its real value over long periods even when paper currencies lose purchasing power. For Singapore investors, gold is also a way to diversify away from SGD-denominated assets, since gold is priced globally in US dollars.

Portfolio diversifier

Gold has historically had a low correlation with Singapore stocks (the Straits Times Index) and with global equity markets. Adding 5 to 15 percent gold to a portfolio can reduce overall volatility without giving up too much long-term return.

No storage hassle

Buying physical gold bars or coins in Singapore means arranging safe storage, paying insurance, and risking theft. A gold ETF removes all of these issues. The ETF manager handles vaulting, insurance, and auditing.

High liquidity

Major gold ETFs such as SPDR Gold Shares trade with tight bid-ask spreads and high daily volumes. You can enter and exit a position in seconds during SGX trading hours.

Small minimum investment

You can buy a single share (or even a fractional share on some brokerages) for as little as S$20 to S$30, whereas a 1-gram gold bar from a Singapore bullion dealer typically costs S$100 to S$130 plus premium.

Transparent pricing

The ETF price updates in real time on your brokerage screen, and the gold holdings are audited and published regularly. You always know what your gold exposure is worth.

Best Gold ETFs on SGX (2026)

Singapore investors have four main gold ETF choices listed on the SGX. Each has slightly different cost, size, and currency characteristics. Below is a comparison of the most actively traded gold ETFs available on the SGX in 2026.

ETF Name	SGX Ticker	Currency	Expense Ratio	AUM (approx.)	Inception
SPDR Gold Shares	GLDS	USD (SGX-listed)	0.40% p.a.	US$70+ billion	2004
abrdn Physical Gold ETF	ABFD	SGD	0.39% p.a.	S$600 million+	2010
Phillip Physical Gold ETF	ABHP	SGD	0.41% p.a.	S$80 million+	2019
Lion-OCBC Gold ETF	OGC	SGD	0.50% p.a.	S$30 million+	2020

SPDR Gold Shares (SGX: GLDS)

The SPDR Gold Shares is the world's largest and most liquid gold ETF, originally launched in 2004 in the US. It is dual-listed in Singapore on the SGX in USD, making it easy to access for Singapore retail investors with a local brokerage. Each share represents approximately one-tenth of an ounce of gold held in HSBC's London vault. With an expense ratio of 0.40 percent per year and around US$70 billion in assets, it is the benchmark gold ETF globally.

abrdn Physical Gold ETF (SGX: ABFD)

The abrdn Physical Gold ETF (formerly known as the ETF Securities Physical Gold ETF and previously the Source Physical Gold ETF) is one of the longest-running gold ETFs on the SGX. It is denominated in Singapore dollars, which removes the need for currency conversion when you transact. The 0.39 percent expense ratio is among the lowest in Singapore, and the fund is backed by allocated gold stored in the Zurich vault of JPMorgan.

Phillip Physical Gold ETF (SGX: ABHP)

The Phillip Physical Gold ETF is backed by physical gold held in Brink's vaults in Singapore. This makes it one of the few gold ETFs where the underlying metal is stored onshore in Singapore rather than in London or Zurich. It is denominated in SGD and is popular with Singapore investors who prefer locally stored gold. The expense ratio is slightly higher at 0.41 percent, but the convenience of domestic vaulting can justify it for some investors.

Lion-OCBC Gold ETF (SGX: OGC)

The Lion-OCBC Gold ETF is a smaller and newer Singapore gold ETF, launched as a joint venture between Lion Global Investors and OCBC. With about S$30 million in AUM, it has lower liquidity than the other three options, which means wider bid-ask spreads for small orders. The 0.50 percent expense ratio is also higher. It is best suited for buy-and-hold investors making modest monthly contributions via regular savings plans.

Gold ETF vs Physical Gold in Singapore

Both gold ETFs and physical gold give you exposure to the gold price, but they differ in cost, convenience, liquidity, and tax treatment. Here is a side-by-side comparison for Singapore investors.

Feature	Gold ETF on SGX	Physical Gold (bars / coins)
Minimum investment	1 share (~S$20-30)	1 gram (~S$100-130 plus premium)
Storage	Vault (managed by ETF)	Home safe or bank vault (self-managed)
Insurance cost	Included in expense ratio	You pay separately
Buy-sell spread	Tight (0.05-0.20%)	Wide (3-7% on small bars)
Liquidity	High during SGX hours	Must visit dealer or ship
Purity guarantee	99.5% LBMA standard	Varies (999.9 for bullion, 916 for jewellery)
Annual cost	0.39-0.50% expense ratio	0% (but storage/insurance apply)
Capital gains tax (SG individual)	None	None
Resale convenience	Instant via broker	Visit dealer, may face verification
Counterparty risk	Yes (fund manager / custodian)	None (you hold it)
Best for	Active investors, small amounts, regular DCA	Long-term holders, large amounts, sovereignty

In short, gold ETFs win on convenience, cost, and liquidity for most retail investors. Physical gold wins on counterparty risk and on the psychological comfort of personally holding the metal. Many Singapore investors use a mix: an ETF for the core gold allocation, plus a small amount of physical coins stored in a bank safe deposit box for crisis scenarios.

How to Buy Gold ETFs on SGX (Step-by-Step)

Buying a Singapore gold ETF is the same as buying any stock on the SGX. You need a brokerage account, sufficient cash, and a few minutes to place the order. Here is the typical workflow.

Step 1: Choose a brokerage

Singapore investors have access to both local and international brokerages that route to the SGX. The most popular options include:

• POEMS (Phillip Securities) - local broker, ideal for buying the Phillip Physical Gold ETF and other SGX counters.
• Tiger Brokers (now known as Tiger Trade) - low-cost app-based broker with multi-currency wallet.
• Interactive Brokers (IBKR) - global broker with access to the deepest market depth and lowest commissions for larger trades.
• Saxo Markets - Danish broker with strong SGX coverage and good research tools.
• FSMOne and Endowus - robo-advisors that allow you to buy gold ETFs in regular savings plans.

Step 2: Open and fund the account

Complete KYC, link your Singapore bank account, and transfer SGD (or USD for SPDR Gold Shares on SGX). Most brokerages accept FAST transfers that clear within the same day.

Step 3: Search for the ticker

Type the SGX ticker (GLDS, ABFD, ABHP, or OGC) into the brokerage search box. Verify that the fund name matches the gold ETF you want to buy.

Step 4: Place the order

Select the number of shares, choose Market Order for instant execution or Limit Order to set a specific price, and confirm. For small amounts under S$500, a market order is fine. For larger amounts, use a limit order to avoid slippage.

Step 5: Monitor and rebalance

Gold ETFs appear in your portfolio just like stocks. You can set price alerts, view live quotes, and sell at any time during SGX trading hours (9:00 AM to 5:00 PM SGT, with pre-open and closing auction phases).

Gold ETF Fees and Costs in Singapore

The total cost of holding a gold ETF in Singapore has three components: the expense ratio (charged by the fund), brokerage commissions, and the bid-ask spread (the difference between buy and sell price).

Expense ratio

This is the annual fee deducted from the fund's assets, expressed as a percentage of your investment. For Singapore gold ETFs, expense ratios range from 0.39 to 0.50 percent per year. On a S$10,000 investment held for one year, that works out to S$39 to S$50 in fund fees.

Brokerage commissions

Most Singapore brokerages charge a flat fee per trade or a percentage of trade value, whichever is higher. Typical rates in 2026:

• POEMS: 0.28% of trade value, minimum S$25.
• Tiger Brokers: 0.03% to 0.08% depending on tier, minimum S$0.99.
• Interactive Brokers: 0.08% of trade value for SGX, minimum S$1.40.
• Saxo: 0.10% to 0.15%, minimum varies by currency.

For small monthly contributions of S$200, Tiger Brokers or a regular savings plan through FSMOne typically works out cheapest. For lump sums above S$10,000, Interactive Brokers is usually the most cost-effective.

Bid-ask spread

The bid-ask spread is the implicit cost embedded in the ETF price. For high-volume ETFs like SPDR Gold Shares and abrdn Gold ETF, the spread is typically 0.05 to 0.10 percent. For smaller ETFs like Lion-OCBC Gold ETF, the spread can widen to 0.30 to 0.50 percent on quiet trading days. Always use a limit order on less liquid gold ETFs.

Currency conversion

If you buy the USD-denominated SPDR Gold Shares on SGX, you will pay a small FX conversion fee (typically 0.03 to 0.10 percent) each time you buy or sell. Holding gold ETFs in SGD removes this cost entirely.

Tax Treatment of Gold ETFs in Singapore

Singapore has one of the most tax-friendly environments for individual investors in the world, and gold ETFs benefit from the same treatment as other capital-market instruments.

No capital gains tax for individuals

Singapore does not levy capital gains tax on profits made by individuals selling investments, including gold ETFs. If you buy a Singapore gold ETF at S$100 and sell it at S$120, the S$20 profit is yours in full. There is no need to declare it on your income tax return.

No GST on ETF purchases

Buying and selling gold ETFs on the SGX is exempt from Goods and Services Tax (GST) since 2020. Brokerage commissions also remain zero-rated for GST, which keeps the cost of trading very low.

No dividend tax for most gold ETFs

Most gold ETFs do not pay a regular dividend because gold does not generate income. Some gold ETFs occasionally distribute small amounts if the fund lends out part of its gold holdings. Such distributions, if any, are taxable at the individual's marginal income tax rate. However, for most retail investors this is negligible.

Estate duty considerations

Singapore abolished estate duty in 2008, so there is no inheritance tax on gold ETF holdings. The shares form part of your estate and are passed to beneficiaries in accordance with your will or the Intestate Succession Act.

US estate tax for US-listed ETFs

If you buy US-listed gold ETFs such as GLD or IAU directly (not via the SGX-listed dual listing), your US holdings may be subject to US estate tax if the value exceeds US$60,000 at death. The SGX-listed SPDR Gold Shares denominated in USD but settled in Singapore is generally treated as a non-US situs asset for estate purposes, which is one more reason to prefer SGX listings.

Gold ETF in Your Portfolio: How Much to Allocate?

There is no single correct gold allocation. The right amount depends on your age, risk tolerance, investment horizon, and the rest of your portfolio. However, mainstream financial planners and academic research give useful guidance.

The classic 5 to 15 percent rule

Most financial planners suggest holding 5 to 15 percent of a diversified portfolio in gold. This range is enough to benefit from gold's hedging properties without giving up too much upside during bull markets in stocks.

Allocator profile

• Conservative (5-7%): retirees, CPF-OA-heavy investors, and those who already hold defensive assets like bonds and REITs.
• Balanced (7-12%): most Singapore investors with a 60-30-10 or similar mix of stocks, bonds, and gold.
• Aggressive (12-15%): investors with no fixed income allocation who want extra insurance against equity-market shocks.

Strategic vs tactical allocation

Strategic allocation means keeping gold at a fixed percentage (say 10 percent) and rebalancing once a year. Tactical allocation means increasing gold when macro signals point to rising inflation or currency stress, and reducing it when stocks are roaring. Most retail investors do better with simple strategic allocation plus annual rebalancing.

Dollar-cost averaging into gold

Rather than buying a large lump sum at once, many Singapore investors use dollar-cost averaging (DCA) - buying a fixed dollar amount of a gold ETF every month. This smooths out the average buy price and removes the risk of timing the market. Robo-advisors like FSMOne and Endowus allow automated monthly contributions from as little as S$100.

Risks of Gold ETFs

Gold ETFs are useful tools, but they are not risk-free. Singapore investors should understand the following risks before allocating capital.

Price volatility

Gold can be volatile in the short term. It can drop 15 to 25 percent in a single year, as it did in 2013 and again in 2021. Gold is best treated as a long-term hedge, not a short-term trade.

No yield or income

Unlike stocks (which pay dividends) or bonds (which pay coupons), gold pays nothing. The return on gold comes entirely from price appreciation. In a long period of flat or falling gold prices, you may even see a negative return after fees.

Counterparty and custodian risk

Although gold ETFs are backed by physical metal, there is still a small risk that the custodian fails, the fund manager makes errors, or regulatory changes affect access. Established ETFs with large AUM and reputable custodians (HSBC, JPMorgan, Brink's) are extremely low risk, but the risk is not zero.

Currency risk

If you buy a USD-denominated gold ETF and the USD weakens against the SGD, your gold returns will be reduced when converted back to SGD. SGD-denominated gold ETFs remove this risk for Singapore-based investors.

Inflation hedge not guaranteed

While gold is often called an inflation hedge, the historical relationship is imperfect. In some inflation regimes (such as 2022-2023) gold has underperformed real assets like energy stocks and TIPS. Gold works best as part of a broader inflation-protection strategy rather than as the sole hedge.

Regulatory and tax changes

Although Singapore currently has no capital gains tax, future policy changes could affect gold ETF taxation. Singapore governments have signalled stability in this area, but all investments carry political and regulatory risk.

FAQ

What is the best gold ETF in Singapore?

For most Singapore investors in 2026, the abrdn Physical Gold ETF (SGX: ABFD) is the best balance of low expense ratio (0.39 percent), SGD denomination, high liquidity, and long track record. The SPDR Gold Shares (SGX: GLDS) is the global benchmark and most liquid, but it trades in USD which adds FX friction. The Phillip Physical Gold ETF (SGX: ABHP) is the only one with gold stored onshore in Singapore, while the Lion-OCBC Gold ETF (SGX: OGC) has the smallest AUM and widest spreads. Pick the one that best matches your currency preference, trade size, and storage philosophy.

How do I buy gold ETFs on the SGX?

You buy a Singapore gold ETF through any brokerage account that offers access to the SGX. The most popular Singapore brokerages are POEMS, Tiger Brokers, Interactive Brokers, Saxo Markets, and the robo-advisors FSMOne and Endowus. Open an account, fund it with SGD or USD, search for the ticker (such as ABFD or GLDS), and place a market or limit order. Settlement is T+2 trading days, just like Singapore stocks. You can buy fractional shares on some brokerages from as little as S$20.

Are gold ETFs taxed in Singapore?

For Singapore individual investors, there is no capital gains tax on profits from selling gold ETFs, and no GST on the transaction itself. Most gold ETFs do not pay dividends, so dividend tax is rarely an issue. If the ETF does make a small distribution from gold lending income, that amount is taxable at your marginal income tax rate. US estate tax can apply if you hold US-listed gold ETFs directly above US$60,000, which is why most Singapore investors prefer SGX-listed dual listings.

What is the difference between gold ETF and physical gold?

A gold ETF is a paper claim on physical gold held in a vault by a custodian. Physical gold is the actual metal, usually in the form of coins or bars, that you store yourself or in a bank safe deposit box. ETFs win on convenience, small minimum size, low spreads, and easy resale. Physical gold wins on counterparty risk (you hold it yourself), sovereignty (no third party involved), and is the only form that works in a true financial-system collapse scenario. Most Singapore investors use a gold ETF for the bulk of their allocation and a small amount of physical coins for crisis insurance.

How much of my portfolio should be in gold ETFs?

A common guideline is 5 to 15 percent of a diversified portfolio. Conservative investors and retirees often sit at 5 to 7 percent. Balanced investors typically hold 7 to 12 percent. Aggressive investors comfortable with no yield from gold can go up to 15 percent. Use dollar-cost averaging to build the position gradually and rebalance once a year back to your target allocation. If you already own gold indirectly through commodity ETFs, mining stocks, or REITs, count that toward your total gold exposure rather than adding another full allocation.

Key Takeaways

• A Singapore gold ETF is the easiest and cheapest way for most retail investors to gain exposure to physical gold prices.
• The four main options on the SGX in 2026 are SPDR Gold Shares (GLDS), abrdn Physical Gold ETF (ABFD), Phillip Physical Gold ETF (ABHP), and Lion-OCBC Gold ETF (OGC).
• Pick an SGD-denominated ETF to avoid FX friction, or use SPDR Gold Shares if you specifically want the global benchmark.
• Total annual cost is typically 0.40 to 0.50 percent (expense ratio) plus brokerage commissions of 0.03 to 0.28 percent per trade.
• Singapore does not tax capital gains on gold ETF profits for individuals, and SGX trades are exempt from GST.
• Allocate 5 to 15 percent of your portfolio to gold and rebalance annually.
• Use dollar-cost averaging for small monthly contributions and limit orders on the smaller ETFs to avoid wide spreads.

Conclusion

Singapore gold ETFs offer one of the cleanest, lowest-cost ways for retail investors to add gold exposure to a diversified portfolio. With four solid choices on the SGX, no capital gains tax, and brokerage access via POEMS, Tiger Brokers, Interactive Brokers, and several robo-advisors, building a 5 to 15 percent gold allocation is a matter of a few clicks. For most Singapore investors, the abrdn Physical Gold ETF (ABFD) is the best default because of its low fee, SGD denomination, and long track record. Start with a small monthly DCA contribution, rebalance once a year, and let gold play its proper role as a long-term hedge against inflation, currency risk, and equity-market shocks.

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About the Author

Written by the SeaMoneyTips editorial team. We are a Singapore-based personal finance publication focused on ETFs, REITs, CPF, SRS, and portfolio strategy for Singapore residents. Our guides and reviews are independent and grounded in publicly available fund prospectuses, SGX disclosures, and MAS-registered product fact sheets. Nothing on this site constitutes personalised financial advice - please consult a licensed financial adviser before making investment decisions.

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