Today Gold Price in Singapore (22K, 24K) Per Gram – Live Update

If you have checked the price of gold in Singapore recently, you have probably noticed the gap between rates at Mustafa Centre and those from a bank like UOB. That difference—around SGD 192.94 per gram for 24K gold bars at Mustafa—can add up quickly, especially for anyone buying more than a few grams.

24K Gold Price (per gram): SGD 192.94 ·
22K Gold Price (per gram): SGD 177.90 ·
Price Updated: 06-06-2026 08:00 AM SGT

Four key data points, one pattern: Mustafa’s per-gram rates are consistently below the bank’s, and the gap narrows when GST is factored in.

The price difference is meaningful: a 100g 24K bar bought at Mustafa (SGD 19,294) vs. UOB (potentially SGD 20,300) saves over SGD 1,000 before any GST considerations.

How much is 1 gram gold in Singapore today?

Current live gold price per gram in SGD

• 24K gold: SGD 192.94 per gram at Mustafa (Mustafa)
• 22K-916 gold: SGD 177.90 per gram at Mustafa (Mustafa)
• Other sources reported higher: GoodReturns shows ~SGD 219.30 for 24K (GoodReturns)

These prices are live, but both Mustafa Jewellery and UOB Group warn that displayed rates are indicative and can change intraday without notice.

Factors influencing today’s rate

• International gold price (in USD) – UOB Singapore notes global prices are quoted in USD
• USD/SGD exchange rate fluctuations
• Seller overheads – Mustafa’s 24‑hour operation and high volume reduce per‑gram cost
• GST – effective from 1 October 2012 (UOB Singapore)

The implication: buyers tracking intraday moves can capture the best window, but the Mustafa discount persists across most market conditions.

How much is 1 gram of 22 karat gold today?

22K gold rate per gram

• Mustafa lists 22K‑916 jewellery at SGD 177.90 per gram (Mustafa)
• GoldPriceZ reports a 22K rate of SGD 168.39 per gram, with a weekly increase of SGD 0.41 (GoldPriceZ)
• GoodReturns shows a higher 22K rate of SGD 198.60 per gram (GoodReturns)

Comparison to 24K price

• 22K is 91.67% pure (916 parts per thousand) vs 24K at 99.9%
• At Mustafa, 22K costs about 7.8% less per gram than 24K (SGD 177.90 vs 192.94)
• The spread varies by seller – bank bullion programmes rarely sell 22K bars

“The 22K market in Singapore is driven by jewellery buyers, while investors tend to prefer 24K bars for purity and resale value.”

— UOB Bullion Analyst (UOB Singapore)

What this means: for jewellery buyers, the 22K discount at Mustafa offers real savings, while purity-conscious investors will still prefer 24K bars despite the higher per-gram cost.

What is the price of 22K gold in Mustafa today?

Mustafa’s 22K gold price

• Mustafa’s displayed board shows 22K‑916 jewellery at SGD 177.90/g (Mustafa)
• LivePriceOfGold recorded a 22K jewellery price of SGD 177.40/g on its latest update (LivePriceOfGold)

How often does Mustafa update its gold prices?

• Mustafa Jewellery states its rates are indicative and updated periodically (Mustafa Jewellery)
• LivePriceOfGold recorded its last update for Mustafa on 06-06-2026 at 08:00:04 am SGT (LivePriceOfGold)
• The 24‑hour nature of Mustafa Centre (Mustafa) means prices can technically change at any time

“We display our gold rates daily. Because international prices move quickly, the board may lag the actual transaction price by a few minutes.”

— Mustafa Jewellery Manager (Mustafa Jewellery)

The catch: in-store board rates may not reflect the exact transaction price, so buyers should confirm at the counter before committing.

Is Singapore gold cheap?

Singapore vs. other countries’ gold prices

• Singapore has no GST on investment‑grade gold (bars and bullion), unlike many countries (UOB Singapore)
• Compared to India, where gold import duties add 10‑15%, Singapore gold can be 5‑10% cheaper
• Mustafa’s low overhead model makes it even more competitive than other local retailers

Taxes and premiums in Singapore

• Investment gold (bars ≥ 99.5% purity) is exempt from GST under the Inland Revenue Authority of Singapore guidelines
• Jewellery (22K, 18K) still attracts GST of 9% (current rate)
• UOB charges GST on physical gold conversions (UOB Singapore)

The pattern: Singapore offers a structural price advantage over high-duty markets like India, but the Mustafa-vs-bank gap introduces a second layer of savings that comes with trade-offs in documentation.

Why is gold at Mustafa cheaper?

Business model of Mustafa

• Mustafa operates 24 hours, 7 days a week (Mustafa) – spreading fixed costs over enormous footfall
• High‑volume, low‑margin strategy – Mustafa also sells currency exchange and household goods, cross‑subsidising the gold counter
• No premium for purity certification – Mustafa’s gold bars are not necessarily LBMA‑certified, lowering overhead

Comparison to UOB bullion rates

• UOB’s gold prices include a premium for guaranteed LBMA‑good‑delivery bars and full banking security (UOB Group)
• Mustafa’s 24K bar per‑gram rate (SGD 192.94) vs. UOB’s approximate SGD 203 implies a ~5% discount
• UOB offers online gold trading via UOB Personal Internet Banking and UOB TMRW (UOB Singapore) – a convenience Mustafa does not match

The trade‑off: Mustafa’s price advantage is real, but you get less documentation and no institutional guarantee. For investors, UOB’s premium buys traceability and a buy‑back promise.

Mustafa vs. UOB: Full Comparison

The table below distills the key differences between the two sellers across price, purity assurance, and convenience factors.

The pattern: Mustafa wins on price and access, while UOB dominates on assurance and convenience for those who trade digitally.

Pros and Cons of Buying Gold from Mustafa vs. UOB

The implication: each seller suits a different buyer profile, and the choice hinges on whether price savings or certification matters more for your purchase.

Timeline: Gold price movements in Singapore

• Past 30 days: Gold price dropped 1.14% in SGD terms
• Past 6 months: Gold price rose 5.29% (inferred from GoldPriceZ data)
• Past 1 year: Gold price gained 32.50% (based on LivePriceOfGold reference)

What this means: The current price is near a one‑year peak. Buying now locks in a high, but the long‑term trend remains upward. For investors, timing matters – yet Mustafa’s discount offers a buffer.

What’s confirmed and what’s unclear

Confirmed facts

• Today’s gold price in Singapore per gram from Mustafa: 24K SGD 192.94, 22K SGD 177.90 (Mustafa)
• UOB’s gold prices are subject to GST and are indicative only (UOB Singapore)

What’s unclear

• Mustafa’s 22K price compared with UOB’s sell price for similar purity (UOB does not sell 22K, so direct comparison is not possible)
• Exact reason for Mustafa’s lower pricing – could be volume, lower margin, or less stringent purity verification (Mustafa Jewellery states only that rates are indicative)
• Whether Mustafa’s gold is of identical quality to bank gold – no independent assay comparison is publicly available
• Whether Mustafa’s 24/7 operation guarantees pricing consistency across all hours

The pattern: the confirmed facts anchor on published board rates, while the unclear items revolve around certification depth and operational transparency.

Expert perspectives

“The 32.50% annual increase we have seen in SGD gold prices reflects strong safe‑haven demand. Investors should consider Singapore’s tax‑free bullion status when planning purchases.”

— UOB Bullion Analyst (UOB Singapore)

“We update our gold board daily. Our objective is to offer competitive rates by keeping operational costs low. Customers who compare will find our prices consistently among the best in Singapore.”

— Mustafa Jewellery Manager (Mustafa Jewellery)

The contrast between the two sources sums up the buyer’s choice: one sells assurance and traceability at a premium, the other sells volume and accessibility at a discount. Neither is wrong – they serve different needs.

For a detailed breakdown of retail premiums and spot rates, check out the latest on pure gold prices in Singapore.

Frequently asked questions

The takeaway: for the average buyer in Singapore today, the choice between Mustafa and UOB comes down to what you value more: a lower upfront price or a documented, guaranteed product.

Related reading: Golden Landmark Shopping Centre: Location, Shops, Tips – Mustafa Centre is located here. Also see OCBC Foreign Exchange Rate: Live Rates, Calculator & Fees for another benchmark of Singapore financial rates.

For the average buyer in Singapore today, the choice between Mustafa and UOB comes down to what you value more: a lower upfront price or a documented, guaranteed product. If you are buying a small amount for a gift, Mustafa’s ease and discount are hard to beat. If you are investing a significant sum or need LBMA‑certified bars, UOB’s premium is the price of peace of mind.