OCBC Expands Into Physical Gold Trading

Singapore’s Oversea-Chinese Banking Corporation (OCBC) is expanding its precious metals business by launching physical gold trading and custody services for institutional investors and private banking clients. The company sees a growing demand for safe-haven assets amid heightened geopolitical and economic uncertainty.

Starting June 10, institutional clients of OCBC and high-net-worth clients of its private banking arm, Bank of Singapore, will be able to buy, sell and store physical gold through OCBC, with the entire trading and custodial chain based in Singapore.

The move marks a significant extension of the bank’s gold franchise beyond its existing paper gold offerings and comes as investor appetite for physical bullion continues to strengthen, iut says in a statement.

According to data cited by OCBC from the World Gold Council, global demand for gold bars in the first quarter of 2026 rose 50% from a year earlier. Bank of Singapore reported that client holdings of physical gold have increased by more than 40% since the end of 2025.

Two Types of Bullion

OCBC said the new service will initially offer two types of bullion: large bars weighing approximately 400 troy ounces (12.4 kilograms) and one-kilogram bars, both allocated to clients and individually identifiable through serial numbers.

The bank said client demand has increasingly shifted toward local custody arrangements. Previously, Bank of Singapore clients transacted in physical gold through a U.S.-based entity. Under the new structure, clients can execute transactions and store bullion entirely within Singapore.

«Amid market volatility and geopolitical uncertainty, clients are thinking more deeply about who they transact with, and where their gold is stored,» said Jason Moo, Chief Executive Officer of Bank of Singapore.

Broader Wealth Management Strategy

The launch reflects broader efforts by Singapore’s financial sector to strengthen its position as a regional precious-metals hub. OCBC said it intends to explore extending physical gold products and related hedging solutions to additional client segments over time.

The initiative also forms part of OCBC’s broader wealth management strategy. In recent years, the group has steadily expanded its gold-related offerings across its banking, asset management and insurance businesses.

Kenneth Lai, Head of Global Markets at OCBC, said the bank views physical gold as a natural extension of its existing precious-metals capabilities and plans to broaden access to the offering over time.