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Orders for gold-silver storage have increased by 88% between.

New Delhi: Did you know that these days, the wealthy are storing their gold in Singapore? Amidst international uncertainties, diminishing trust in banks, and geopolitical tensions, the world’s rich are now keeping their gold not in bank lockers but in secure vaults abroad.

The biggest beneficiary of this trend is Singapore, which is becoming the ‘Geneva of the East’ for high-net-worth individuals (HNWIs) worldwide.

According to a CNBC report, ‘The Reserve’, a six-story private vault near Singapore Airport, currently stores approximately $1.5 billion (around Rs 12,500 crores) worth of gold and silver bars. This building, covered with onyx, features top-notch security and contains thousands of safe deposit boxes and a vast storage chamber.

According to the founder, Gregor Gregersen, orders for gold-silver storage have increased by 88% between January and April 2025, while gold-silver bar sales have seen a 200% year-over-year growth.

Why is this trend of gold changing?

Trust crisis: Wealthy individuals in countries like Lebanon, Algeria, and Egypt are losing faith in their banking systems.

Inclination towards physical gold: Gregerson states that people now consider holding physical gold more secure than paper gold (ETFs, mutual funds) as it carries less counterparty risk, or the risk of default from a third party.

Lessons from the banking crisis: The 2023 Silicon Valley Bank crisis made many wealthy investors realize that it’s better to hold actual gold physically in a reliable location rather than relying on paper claims.

Why is Singapore becoming the first choice?

Political stability: Singapore is considered a ‘safe jurisdiction,’ much like Switzerland once was.

Transit hub: It serves as an important transit center, making the import and export of gold easier.

Bank-free storage: John Reed from the World Gold Council mentions that some investors now prefer to store gold outside of banks, as they feel the banking system is not completely secure anymore.