OCBC Moves Into Physical Gold Trading, Custody for Wealth Clients

Gold Holdings Growth

40%

Increase in Bank of Singapore's client holdings in physical gold since the end of 2025.

Service Launch Date

June 10, 2026

The date when OCBC's physical gold trading and custody service will commence.

Gold Bar Weight

400 troy ounces

Weight of the large gold bars that will be offered in the new service.

§ 01 Executive Snapshot

What: OCBC is launching a physical gold trading and custody service for its wealth clients.
Who: OCBC, Bank of Singapore, Jason Moo (CEO of Bank of Singapore), Kenneth Lai (Head of Global Markets, OCBC).
Why it matters: This expansion allows OCBC to enhance its wealth management offerings and respond to client demand for secure physical gold investments.

OCBC will offer allocated gold bars held in a Singapore-based vault starting from 10 June 2026.
The service will include large gold bars of approximately 400 troy ounces (12.4kg) and 1kg kilobars.
Bank of Singapore's client holdings in physical gold have increased by over 40% since the end of 2025, primarily among ultra-high-net-worth clients.

OCBC's move into physical gold trading aligns with a broader trend of wealth management firms expanding their alternative asset offerings to meet client demand.
Previously, Bank of Singapore clients purchased physical gold through a US-based entity, indicating a shift to localized services in Singapore for enhanced client trust and security.

Immediate implications include increased market-making capabilities in precious metals for OCBC, strengthening its competitive position in wealth management.
Long-term, OCBC plans to expand its gold services to institutional clients, potentially broadening its market reach and client base.

Regulatory challenges may arise concerning the trading and custody of physical gold in Singapore, which could impact operational timelines.
Competition from other financial institutions offering similar gold trading services may affect OCBC's market share in this segment.

The launch date of 10 June 2026 will be a critical milestone for assessing client uptake of the new physical gold services.
Future developments in OCBC's gold offerings, such as expansion to institutional clients, will signal the success of this strategic initiative.

§ 07

What new service is OCBC launching for its wealth clients?

OCBC is launching a physical gold trading and custody service for its wealth clients.

When will OCBC's physical gold trading service be available?

The service will be available starting from 10 June 2026.

Who is leading the initiative for OCBC's gold trading service?

The initiative is led by Jason Moo, CEO of Bank of Singapore, and Kenneth Lai, Head of Global Markets at OCBC.

Why is OCBC expanding into physical gold trading?

This expansion allows OCBC to enhance its wealth management offerings and respond to client demand for secure physical gold investments.