Wealthy investors from the United States, Europe and the Middle East are increasingly choosing Singapore as a refuge for their gold holdings, unsettled by wars, mounting government debt and political uncertainty back home.
At the center of the trend is Gregor Gregersen, whose vault operation, The Reserve, occupies a six-story, 180,000-square-foot facility with enough capacity to hold roughly 10% of the world’s annual gold supply and 30% of its annual silver supply.
Gregersen’s business has increasingly turned to selling vault space to foreign investors seeking to store their bullion somewhere perceived as more geographically and politically insulated than their home markets.
The shift reflects a broader pattern among the ultra-wealthy, who cite rising geopolitical risk, growing sovereign debt loads and domestic political instability as reasons for reconsidering where they keep physical stores of value like gold.
Private gold storage in Singapore has expanded sharply as a result, surging sixteenfold since 2014 to surpass 800 tons by 2025, underscoring how far the city-state's role as a wealth-storage hub has grown over the past decade.
The trend positions Singapore alongside its established reputation as a financial and wealth-management center, adding physical gold storage to the list of reasons high-net-worth individuals are directing capital toward the city-state amid a more uncertain global backdrop.
