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Retail demand for gold remains strong in Singapore, Sydney, Thailand
Singaporeans Queueing Up to Buy the Dip in Gold Despite Rout
By Chanyaporn Chanjaroen, Sing Yee Ong, and Nasteho Said
Bloomberg News
via The Business Times, Singapore
Monday, February 2, 2026
People were still queueing up to buy gold in Singapore today even as prices plummeted, showing the extraordinary resilience in retail demand for precious metals.
At the headquarters of UOB, Singapore's only bank offering physical gold products to retail investors, clients and walk-in buyers crowded into a dedicated lounge for bullion transactions.
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"I came to buy because the price of gold dropped today," said Ng Beng Choo. The 70-something retiree said she had arrived and got a ticket at 9.30 a.m. but was still waiting to be called more than six hours later.
A long-running rally in precious metals kicked into overdrive last month as the Trump administration upended the geopolitical order and renewed its attacks on the U.S. Federal Reserve. Those surges went into reverse on Friday, and the rout continued apace today. At one point gold had dropped by more than a fifth from a record high last week.
But rather than seek to sell, many retail investors appeared to be trying to buy the dip in gold, which fell to near US$4,400 an ounce today. ...
... For the remainder of the report:
https://www.businesstimes.com.sg/singapore/singaporeans-queueing-buy-dip-gold-despite-rout
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