OCBC to offer physical gold trading, storage in Singapore

Oversea-Chinese Banking

08/06/2026 04:54

SINGAPORE, June 8 (Reuters) - Oversea-Chinese Banking Corp OCBC.SI on Monday said it will let institutional and private banking clients buy, sell and store physical gold in Singapore from June 10, expanding its business as demand for bullion rises. 
The Singapore bank said the service will be offered to OCBC institutional clients and high-net-worth and ultra-high-net-worth clients of Bank of Singapore, its private banking arm.
Clients will be able to trade large gold bars of about 400 troy ounces, or 12.4 kg, and one-kilogram bars, known as kilobars.
OCBC said the gold will be held in a secure Singapore-based vault. The bars will carry serial numbers and be allocated to clients, meaning clients own specific bars rather than a share of pooled gold.
OCBC cited World Gold Council data showing global demand for gold bars rose 50% from a year earlier in the first quarter of 2026. 

 (Reporting by Yantoultra Ngui; Editing by Thomas Derpinghaus)
 ((Yantoultra.Ngui@thomsonreuters.com;))