Storing gold in Singapore
Home safes, bank safe deposit boxes and dealer vaults: the trade-offs, the costs to ask about and what insurance covers.
At home
Keeping gold at home costs little and gives you immediate access, but it depends on your own security. Check whether your home insurance covers bullion at all, and up to what limit.
A bank safe deposit box
A box gives you physical security in a bank, but waiting lists can be long, and contents are usually not insured by the bank. Ask what the bank covers and what you would need to insure yourself.
A dealer's vault
Some dealers offer vaulted storage, often with a yearly fee and the option to sell back without moving the metal. Ask whether your holding is allocated to you, who insures it, and what happens to it if the company fails.