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Business Times
2 days ago
- Business
- Business Times
BT Money Hacks: Why gold is glimmering again in an uncertain world
When inflation is sticky, policy is fuzzy, and no one seems quite sure where the global economy is headed, gold starts looking less like a relic and more like a rational choice. You've likely heard the pitch before: 'Gold is a safe haven.' But in 2025, it's not just fear driving gold's comeback—it's strategy. In this episode of Money Hacks by The Business Times, host Howie Lim gets into the nitty-gritty with Fan Shaokai from The World Gold Council, Stephanie Leung from StashAway and Robin Tsui from State Street Global Advisors to unpack why gold is having a moment, how to think about it in your portfolio, and whether it's too late to get in on the action. Why listen? Because gold isn't just glinting in vaults. It's quietly being stockpiled by central banks. That should make you pause. Because diversifying isn't just about adding a shiny asset. It's about understanding why gold behaves the way it does when everything else is on fire. Because the price has gone up but that doesn't mean you've missed the boat. Timing might be overrated; allocation isn't. And because thinking of gold as a quick-hit investment? That's how people end up disappointed. This episode helps you see it for what it is: a stabiliser, not a saviour. Forget the gold fever of old, this is a calm, clear-headed look at how the metal fits into a modern portfolio. From dollar-cost averaging to the declining faith in the US dollar, this conversation gives you what you need to decide whether gold deserves space in your own mix. Listen to the full episode of Money Hacks now because in a time of global uncertainty, a little glint of clarity goes a long way. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up And as always, host Howie Lim invites your feedback or suggestions at btpodcasts@ --- Written and hosted by: Howie Lim (howielim@ With Stephanie Leung, chief investment officer, StashAway; Robin Tsui, APAC gold strategist, State Street Global Advisors; and Fan Shaokai, head of Asia-Pacific (ex-China) & global head of Central Banks, World Gold Council Edited by: Howie Lim & Claressa Monteiro Produced by: Howie Lim & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Money Hacks podcasts every Monday: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Correspondents: BT Market Focus at: BT Podcasts at: BT Branded Podcasts at: BT Lens On:
Business Times
17-06-2025
- Business
- Business Times
Record central banks expect gold reserves to rise amid de-dollarisation: survey
[SINGAPORE] A record high number of central banks are expecting a gold buying spree among the reserve managers in the next 12 months, based on data released by World Gold Council (WGC) on Tuesday (Jun 17). Among the 73 central banks polled, some 95 per cent of them indicated that they expect global central banks to continue increasing their gold holdings in the next one-year period, a record high since the data was first tracked in 2019, and a 17 per cent increase from the survey results last year. Nearly 43 per cent of the reserve managers indicated planning to add to their own gold reserves within the next year, up from 29 per cent last year. 'Reserve managers' favourable view of gold persists even in the face of record-high gold prices and 15 successive years of central bank gold buying,' noted WGC. Gold has entered a higher price regime in 2025, trading at the high end of US$3,300 an ounce in the afternoon session of Asian trading on Tuesday. This represents a year-to-date rise of about 28 per cent. Fan Shaokai, global head of central banks and head of Asia-Pacific (ex-China) at WGC, highlighted the strategic importance of gold in current global financial and geopolitical environments. 'Central banks are concerned about interest rates, inflation and instability – all reasons to turn to gold to mitigate risk,' said Fan. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Central banks have accumulated more than 1,000 tonnes of gold in each of the last three years, based on WGC's data. It is a significant rise from an average of 400 to 500 tonnes in the preceding decade, the council highlighted. The Bank of England remains the most popular vaulting location for gold reserves among the survey respondents, at 64 per cent of votes. Meanwhile, the de-dollarisation trend continues to gain momentum amid central banks, as the US dollar's dominance erodes amid geopolitical tensions, inflation concerns and a growing preference for gold as a reserve asset. Some 73 per cent of the surveyed central banks expect the greenback's share over their total reserves to be lower five years from now, higher than 62 per cent last year.

Straits Times
30-04-2025
- Business
- Straits Times
Singapore investors buy 2.5 tonnes of gold bullion in Q1, the most since 2010
Singapore demand was up 35 per cent year on year, the highest since records began by World Gold Council. PHOTO: REUTERS Singapore investors buy 2.5 tonnes of gold bullion in Q1, the most since 2010 SINGAPORE - Singapore investors' appetite for bullion remained strong in the first quarter of 2025 amid a record high price environment, in which gold surpassed US$3,000 an ounce. Their demand for gold bars and coins rose 35 per cent year on year to 2.5 tonnes, the highest since records began by World Gold Council (WGC) in 2010. The gold investment demand in Indonesia, Malaysia and Thailand also grew steadily at double-digit year-on-year rates, according to the Q1 gold demand report released by WGC on April 30. Vietnam, however, saw the demand for gold bars and coins drop 15 per cent on the year to 12 tonnes of gold purchased. This was attributed to higher premiums on the limited availability of gold products, as well as local currency depreciation, said WGC. Gold jewellery demand declined across the Asean countries, aligning with the global trend amid record-high gold prices. Singapore, in particular, saw the demand fall 20 per cent on the year, at 1.7 tonnes of gold jewellery purchased. Fan Shaokai, head of Asia-Pacific (ex-China) and global head of central banks at WGC, noted that the global jewellery demand recorded its lowest level since the demand was stifled by the Covid pandemic in 2020, which was 'unsurprising' given that gold hit 20 all-time price highs in Q1. Central banks' demand dips Global central banks entered their 16th consecutive year of net buying with 243.7 tonnes of gold added to their reserves in Q1, driven by the need for portfolio diversification, risk management, inflation hedging, and protection against geopolitical and market volatility, noted Fan. This was, however, down 21 per cent from the 309.9 tonnes purchased in the same quarter last year. Despite the fall, the demand, in absolute terms, was still 'healthy' at 24 per cent above the five-year quarterly average, and 9 per cent below the average over the last three years of elevated demand, highlighted WGC. In particular, the Monetary Authority of Singapore sold three tonnes of gold in the quarter, maintaining its total gold holdings at about 220 tonnes. Overall gold demand Global gold investment demand, comprising both gold-backed exchange-traded funds (ETFs) as well as bars and coins surged 170 per cent year on year to 551.9 tonnes. This was driven by a strong revival of demand for gold ETFs, registering net inflows of 226.5 tonnes, compared with net outflows of 113 tonnes the same period last year. The overall gold demand remained steady at 1,206 tonnes, a 1 per cent increase on the year. This includes demand for investment, jewellery fabrication, central bank purchases and technology uses. 'Amidst the ongoing geopolitical tensions and global market volatility, gold, a traditional safe haven asset continues to perform strongly with global gold demand reaching its highest first-quarter level since Q1 2016,' said Mr Fan. Outlook for 2025 WGC expects near-term stagflation risks, medium-term recession risks, elevated stock-bond correlations, an expected acceleration in US deficits, and continued geopolitical tensions to continue to drive gold demand for investment. Louise Street, senior markets analyst at WGC, said: 'Looking ahead, the broader economic landscape remains difficult to predict, and that uncertainty could provide upside potential for gold.' Demand for gold bars and coins, specifically, is expected to 'stay resilient rather than strong', given that surging prices would temper geopolitical risk motives, said WGC, noting gold jewellery demand to be weaker than expected. 'Any stronger jewellery recycling response may be tempered by low near-market stocks, trade-ins, old-gold collateral activity, and little distress-driven selling,' added WGC. THE BUSINESS TIMES Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
30-04-2025
- Business
- Business Times
Singapore investors buy 2.5 tonnes of bullion in Q1, the highest since 2010
[SINGAPORE] Investors' appetite for gold bars and coins remained strong in the first quarter of 2025. At 2.5 tonnes, the demand was up 35 per cent year on year, the highest since records began by World Gold Council (WGC) in 2010. The gold investment demand in Indonesia, Malaysia and Thailand also grew steadily at double-digit year-on-year rates, according to the Q1 gold demand report released by WGC on Wednesday (Apr 30). Vietnam, however, saw the demand for gold bars and coins drop 15 per cent on the year to 12 tonnes of gold purchased. This was attributed to higher premiums on the limited availability of gold products, as well as local currency depreciation, said WGC. Gold jewellery demand declined across the Asean countries, aligning with the global trend amid record-high gold prices. Singapore, in particular, saw the demand fall 20 per cent on the year, at 1.7 tonnes of gold jewellery purchased. Fan Shaokai, head of Asia-Pacific (ex-China) and global head of central banks at WGC, noted that the global jewellery demand recorded its lowest level since the demand was stifled by the Covid pandemic in 2020, which was 'unsurprising' given that gold hit 20 all-time price highs in Q1. Central banks' demand dips Global central banks entered their 16th consecutive year of net buying with 243.7 tonnes of gold added to their reserves in Q1, driven by the need for portfolio diversification, risk management, inflation hedging, and protection against geopolitical and market volatility, noted Fan. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up This was, however, down 21 per cent from the 309.9 tonnes purchased in the same quarter last year. Despite the fall, the demand, in absolute terms, was still 'healthy' at 24 per cent above the five-year quarterly average, and 9 per cent below the average over the last three years of elevated demand, highlighted WGC. In particular, the Monetary Authority of Singapore sold three tonnes of gold in the quarter, maintaining its total gold holdings at about 220 tonnes. Overall gold demand Gold investment demand, comprising both gold-backed exchange-traded funds (ETFs) as well as bars and coins, stood at 551.9 tonnes, up 170 per cent on the year. This was driven by a strong revival of demand for gold ETFs, registering net inflows of 226.5 tonnes, compared with net outflows of 113 tonnes the same period last year. The overall gold demand remained steady at 1,206 tonnes, a 1 per cent increase on the year. This includes demand for investment, jewellery fabrication, central bank purchases and technology uses. 'Amidst the ongoing geopolitical tensions and global market volatility, gold, a traditional safe haven asset continues to perform strongly with global gold demand reaching its highest first-quarter level since Q1 2016,' said Fan. Outlook for 2025 WGC expects near-term stagflation risks, medium-term recession risks, elevated stock-bond correlations, an expected acceleration in US deficits, and continued geopolitical tensions to continue to drive gold demand for investment. Louise Street, senior markets analyst at WGC, said: 'Looking ahead, the broader economic landscape remains difficult to predict, and that uncertainty could provide upside potential for gold.' Demand for gold bars and coins, specifically, is expected to 'stay resilient rather than strong', given that surging prices would temper geopolitical risk motives, said WGC, noting gold jewellery demand to be weaker than expected. 'Any stronger jewellery recycling response may be tempered by low near-market stocks, trade-ins, old-gold collateral activity, and little distress-driven selling,' added WGC.