How the gram price is derived
Although Singaporean shops quote per gram, the global market quotes gold in US dollars per troy ounce. One troy ounce equals exactly 31.1034768 grams, so the pure gold (24K) gram price is the ounce price divided by 31.1034768, converted to SGD at the live exchange rate. Lower purities are then a simple multiplication: 22K/916 is the 24K gram price × 0.9167, and 18K is × 0.75.
Singapore is a major regional bullion hub. Qualifying Investment Precious Metals (IPM) — gold of at least 99.5% purity in approved bar and coin forms — are exempt from GST, which makes 999.9 bars and coins especially cost-efficient to buy in Singapore.