Gold Price for Jewellers in Singapore

Making charges and pricing

Singapore goldsmiths sell 916 (22K) and 999 (24K) jewellery mostly by weight: the day's gram rate for the purity, plus a workmanship charge quoted per gram or per piece, plus 9% GST if the seller is GST-registered. Designer, 18K and gem-set pieces are more often sold at a fixed price per item. Stones should be weighed and priced separately so that they are not charged at the gold rate.

Shops buy back old 916 and 999 gold per gram at their own buying rate, often as a trade-in against new pieces. Scrap buyers test the purity, deduct stones and non-gold parts, and pay a percentage of the value of the fine gold content.

Hallmarking and purity marks

Singapore has no compulsory hallmarking. Purity marks such as 999, 916 and 750 are applied by manufacturers and importers. A false or misleading claim about purity can be an unfair practice under the Consumer Protection (Fair Trading) Act. Voluntary hallmarking is available from the Singapore Assay Office, part of Singapore Test Services. Its hallmark has three parts: the jeweller's mark, the office's lion-head mark and a standard mark showing the fineness.

Tax on sales and scrap

Jewellery carries 9% GST when sold by a GST-registered business, whatever its purity. Investment precious metals (IPM) have been exempt since 1 October 2012. These are bars, ingots and wafers of gold of at least 99.5% purity (silver 99.9%, platinum 99%) from accredited refiners, and coins on IRAS's qualifying list. Proof and collector coins and anything made to be worn are not IPM. Tourists can claim GST refunds on jewellery under the Tourist Refund Scheme when they leave Singapore.

No GST is charged when you buy old gold from a private individual who is not GST-registered. A GST-registered dealer reselling second-hand jewellery may use the Gross Margin Scheme if it meets the scheme's conditions. GST is then 9/109 of the margin between buying and selling price, and nothing is due on a sale at a loss. Check whether your stock qualifies with your tax adviser.

Customer checks and reporting

Jewellers, bullion traders, wholesalers and second-hand dealers are regulated dealers under the Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 (PSPM Act). They must register with the Registrar of Regulated Dealers at the Ministry of Law's AML/CFT Division (ACD), whatever the size of their cash business. Trading without registration can lead to a fine of up to S$75,000, up to three years' imprisonment, or both. Pawnbrokers and businesses regulated by MAS are excluded.

A designated transaction is a sale paid in cash or cash equivalent above S$20,000, or a second-hand dealer's purchase from a member of the public paid that way. Two or more such transactions with the same customer in one day count together. For these you must complete customer due diligence before the deal and file a Cash Transaction Report with the Suspicious Transaction Reporting Office (STRO) through SONAR within 15 business days, keeping a copy for five years. Suspicious transactions must be reported to STRO whatever the amount. The ACD's guidelines on customer due diligence and enhanced due diligence were updated on 12 May 2026.