How to Buy Gold from UOB [2025]

Ready to buy your first gold bar from UOB? This step-by-step guide walks you through the entire process—from checking prices to walking out with physical gold in hand. No prior experience needed.

Before You Visit: Preparation Checklist

Step 1: Check Current Gold Prices

Before heading to UOB, know what you'll pay. Visit ILoveUOBGold.com for real-time UOB gold prices across all bar sizes. Prices update throughout the day based on international gold markets.

Key terms to understand:

• Bank Sell Price: What you pay UOB to buy gold
• Bank Buy Price: What UOB pays you when you sell gold back
• Spread: The difference between buy and sell prices (UOB's margin)

Step 2: Decide What to Buy

UOB offers gold bars in multiple sizes and styles:

*Prices vary with market conditions. Check current rates before visiting.

Bar Types Available

• PAMP Suisse (minted): Lady Fortuna design, Veriscan authentication, premium finish
• ARGOR-Heraeus Cast: Traditional poured bars, lowest premiums
• ARGOR-Heraeus Lunar: Chinese zodiac designs, collectible appeal

Step 3: Prepare Your Documents and Payment

Required identification:

• Singapore citizens/PRs: NRIC
• Foreigners: Passport

Payment methods accepted:

• Cash (SGD)
• NETS
• Cashier's order (for large amounts)
• UOB account debit (if you have one)

Note: Credit cards are generally NOT accepted for gold purchases at UOB.

Finding a UOB Bullion Counter

Not all UOB branches sell gold. You need a branch with a bullion counter. Key locations include:

Main Branches with Bullion Counters

• UOB Main Branch (Raffles Place)
  80 Raffles Place, UOB Plaza 1
  Monday-Friday: 9:00am - 4:30pm
• UOB Orchard
  1 Orchard Boulevard, Camden Medical Centre
  Monday-Friday: 9:30am - 4:00pm

Tip: Call ahead to confirm bullion counter hours and gold availability, especially for specific bar types or sizes.

Best Times to Visit

• Avoid: Lunch hours (12-2pm) and month-end periods
• Better: Mid-morning (10-11am) or mid-afternoon (2:30-3:30pm)
• Best: Tuesday-Thursday, mid-month

The Purchase Process: Step by Step

Step 1: Take a Queue Number

At larger branches, take a queue ticket for "Bullion" or "Precious Metals" services. Smaller branches may direct you to a specific counter.

Step 2: Tell the Staff What You Want

When called, approach the counter and specify:

• The bar size you want (e.g., "50 gram gold bar")
• The brand preference (PAMP Suisse, ARGOR cast, or Lunar)
• Quantity if buying multiple bars

Example: "I'd like to purchase one 50 gram PAMP Suisse gold bar, please."

Step 3: Review the Price

The staff will quote the current price. This is based on real-time UOB rates and includes:

• Gold content value
• UOB's premium (bank margin)
• No GST (investment gold is exempt)

If the price differs significantly from what you saw online, ask the staff to explain—prices do fluctuate throughout the day.

Step 4: Present Your ID

Hand over your NRIC or passport. The staff will record your details for the transaction. This is standard practice for precious metals purchases.

Step 5: Make Payment

Pay using your chosen method. For large purchases (over SGD 20,000), some branches may require appointment or cashier's order payment.

Step 6: Inspect Your Gold

Important: Before leaving the counter, inspect your gold bar:

• Verify the weight matches your purchase (marked on bar and packaging)
• Check the sealed assay card is intact and undamaged
• Confirm the serial number on the bar matches the certificate
• Ensure purity marking shows 999.9
• For PAMP bars, verify the Veriscan code is visible

If anything seems wrong, raise it immediately with the staff.

Step 7: Get Your Receipt

Keep your receipt safely—it's proof of purchase and shows:

• Date and time of purchase
• Bar details (weight, brand, serial number)
• Amount paid
• UOB branch information

This receipt is important for insurance claims and future resale.

After Purchase: Securing Your Gold

Immediate Storage Options

1. UOB Safe Deposit Box: Ask about availability at the same branch. Annual fees range from SGD 100-500 depending on box size.
2. Take it home: Transport discreetly and store in a quality safe. Consider insurance.
3. Private vault: Third-party options like Silver Bullion or BullionStar offer secure storage.

Documentation to Keep

• Purchase receipt
• Original sealed packaging (don't open unless necessary)
• Photos of the bar and serial number for insurance
• Certificate/assay card

Important Policy Update: Selling Back to UOB

Since March 2025: To sell gold back to UOB, you must have a UOB Current or Savings account. If you don't have one and plan to sell to UOB in the future, consider opening an account.

Alternatively, you can sell to other dealers (Silver Bullion, BullionStar, etc.) without a UOB account.

Common Questions from First-Time Buyers

Can I buy gold online from UOB?

No. UOB currently requires in-person purchase at branches with bullion counters. You cannot buy physical gold through UOB internet banking or mobile app.

Is there a minimum purchase amount?

The smallest bar available is 1 gram (approximately SGD 100-130). There's no minimum dollar amount beyond the cost of one bar.

Can foreigners buy gold from UOB?

Yes. Bring your passport for identification. There are no nationality restrictions on purchasing investment gold in Singapore.

Do I pay GST on gold?

No. Investment Precious Metals (IPM) meeting purity requirements are GST-exempt in Singapore. All UOB gold bars qualify.

What if the bar I want isn't in stock?

Stock varies by branch. If your preferred size or brand isn't available:

• Ask when new stock is expected
• Try another UOB branch with a bullion counter
• Consider an alternative size or brand

Can I reserve gold bars?

Generally no. Gold purchases are first-come, first-served. For very large purchases, contact UOB's precious metals desk directly to discuss arrangements.

Quick Reference Summary

Ready to Buy?

Buying gold from UOB is straightforward once you know the process. The key steps are:

1. Check current prices on ILoveUOBGold.com
2. Decide on bar size and type
3. Visit a UOB branch with bullion counter
4. Complete the purchase with your ID and payment
5. Store your gold securely

Start with a size that fits your budget—even a 10g bar is a meaningful first step into gold investment. As you gain confidence, you can add to your holdings over time.