UOB vs BullionStar vs Silver Bullion Compared
UOB, BullionStar, and Silver Bullion are Singapore's three most popular gold dealers. This head-to-head comparison covers premiums, buyback rates, storage, availability, and which dealer suits your investment style best.
Singapore's Big Three Gold Dealers
If you're buying physical gold in Singapore, your realistic options boil down to three main players. Each serves a different type of investor, and picking the wrong one can cost you hundreds — or leave you empty-handed when gold sells out.
- UOB Precious Metals — Singapore's largest bank-based gold dealer, selling PAMP Suisse and ARGOR-Heraeus bars
- BullionStar — Independent dealer with showroom at 45 New Bridge Road, wide product range
- Silver Bullion (The Safe House) — Dealer-vault hybrid specialising in allocated storage at Changi
All three sell LBMA-accredited, GST-exempt Investment Precious Metals. The differences are in premiums, spreads, storage, and the buying experience. Let's break it down.
Premium Comparison: What You Actually Pay
Premiums are the markup over spot price — the real cost of buying gold beyond the metal value itself. Here's how the three compare across common bar sizes (based on April 2026 pricing):
| Bar Size | UOB (PAMP) | UOB (ARGOR Cast) | BullionStar | Silver Bullion |
|---|---|---|---|---|
| 1g | 8–15% | — | 10–18% | 12–20% |
| 10g | 3–5% | 2–4% | 3–5% | 3–6% |
| 50g | 2–4% | 1.5–3% | 2–3.5% | 2–4% |
| 100g | 2–3% | 1.5–2.5% | 1.5–2.5% | 1.5–3% |
| 1kg | 1.5–2.5% | 1–2% | 1–2% | 1–2% |
Key insight: For small bars (1g–10g), UOB's ARGOR cast bars are typically the cheapest option. For 100g+ bars, BullionStar and UOB are competitive. Silver Bullion tends to carry slightly higher premiums but bundles storage and insurance into the buying experience.
Buyback Spreads: What You Get When Selling
The buyback spread is just as important as the purchase premium — it determines your total round-trip cost. A dealer with low premiums but terrible buyback rates isn't necessarily a better deal.
| Dealer | Typical Buyback Spread | Conditions |
|---|---|---|
| UOB | 1–1.5% below spot | Must be UOB-sold bars with original receipt; any LBMA bar accepted but at wider spread |
| BullionStar | 0.5–1.5% below spot | Buys back most LBMA bars regardless of original seller; tighter spreads on their own inventory |
| Silver Bullion | 0.5–1% below spot | Best buyback if gold is stored in The Safe House; wider spread for walk-in bars |
The takeaway: Silver Bullion typically offers the tightest buyback spreads, especially for gold stored in their vault. BullionStar is the most flexible — they'll buy back bars from any dealer. UOB's buyback is reliable but the spread is wider, and you must visit a branch in person.
Stock Availability: The February 2026 Stress Test
The February–March 2026 gold rush exposed major differences in stock management:
| Dealer | Stock Status (Feb–Mar 2026) | Response |
|---|---|---|
| UOB | Most bars sold out; all coins sold out | Switched to appointment-only from Feb 13; extended hours |
| BullionStar | Maintained stock on most sizes; some 1kg bars temporarily out | Walk-ins still accepted; online ordering continued |
| Silver Bullion | Generally maintained inventory; some delays on specific products | Online ordering with vault storage continued normally |
Lesson learned: When demand spikes, independent dealers maintained stock better than UOB. If you're a "buy the dip" investor, having accounts with multiple dealers ensures you can actually execute when opportunities arise.
Storage & Security Options
Where your gold lives after purchase is a critical — and often overlooked — part of the decision.
| Feature | UOB | BullionStar | Silver Bullion |
|---|---|---|---|
| Vault storage | No — take delivery only | Yes — BullionVault (from ~0.5%/year) | Yes — The Safe House at Changi (from ~0.5%/year) |
| Allocated storage | N/A | Yes — your specific bars, segregated | Yes — your specific bars, segregated |
| Insurance included | N/A | Yes (for vaulted gold) | Yes (for vaulted gold) |
| Audit/verification | N/A | Annual independent audit | Real-time inventory verification online |
| 24/7 access | N/A | During showroom hours | By appointment |
If you want to buy gold and not worry about storage, BullionStar and Silver Bullion have a clear advantage. UOB hands you the bar and wishes you well — storage is entirely your problem.
The Buying Experience
| Feature | UOB | BullionStar | Silver Bullion |
|---|---|---|---|
| How to buy | In-branch only (appointment required) | Walk-in showroom or online | Online (primary), walk-in by appointment |
| Payment methods | Cash, NETS, bank transfer | Cash, bank transfer, PayNow, credit card (with surcharge) | Bank transfer, PayNow |
| Operating hours | Mon–Fri 9:30am–6pm | Mon–Fri 10am–6pm, Sat 10am–2pm | Mon–Fri 9am–5:30pm |
| Location | UOB Main Branch, Raffles Place | 45 New Bridge Road (Chinatown) | 3 Changi Business Park Vista |
| Online pricing | Via ILoveUOBGold.com (unofficial) or UOB website | Real-time on BullionStar.com | Real-time on SilverBullion.com.sg |
| Product range | PAMP & ARGOR only | Wide — PAMP, Valcambi, Perth Mint, Royal Canadian Mint, etc. | PAMP, Valcambi, Metalor, and house-brand bars |
Which Dealer Wins on What
UOB Wins On:
- Trust and reputation: Singapore's oldest precious metals counter (since 1970s). Bank-backed, systemically important institution
- Lowest premiums on ARGOR cast bars: Particularly 50g–1kg sizes
- Gold Savings Account option: No other dealer offers a passbook-style gold account with physical conversion
- Familiar banking experience: If you're already a UOB customer, buying gold feels like any other bank transaction
BullionStar Wins On:
- Product variety: Largest range of bars, coins, and collectibles in Singapore
- Accessibility: Walk-in friendly with Saturday hours, plus full online ordering
- Buyback flexibility: Will buy back bars from any LBMA-accredited source
- Educational content: Extensive research and market analysis on their website
- Stock resilience: Maintained inventory during the Feb 2026 crisis when UOB sold out
Silver Bullion Wins On:
- Integrated storage: The Safe House at Changi offers fully insured, allocated vault storage
- Best buyback spreads: Particularly for gold stored in their vault
- Real-time verification: Check your exact holdings online at any time
- International portability: Can arrange international delivery or transfer to overseas vaults
- Peer-to-peer marketplace: Buy and sell to other investors, sometimes at better prices
Making Your Decision
Choose UOB If:
- You want the security of buying from a major Singapore bank
- You prefer ARGOR cast bars at the lowest premiums
- You want to use the Gold Savings Account for DCA
- You already bank with UOB and value the convenience
- You're comfortable arranging your own storage
Choose BullionStar If:
- You want the widest product selection (coins, exotic bars, collectibles)
- You value walk-in access without appointments
- You may sell bars originally purchased elsewhere
- You want vault storage but also enjoy browsing in a showroom
- Stock availability during market panics is important to you
Choose Silver Bullion If:
- Integrated, fully insured vault storage is your priority
- You want the tightest buyback spreads in Singapore
- You prefer online transactions over in-person visits
- Real-time portfolio verification matters to you
- You may want international delivery options in the future
The Multi-Dealer Strategy
Sophisticated Singapore gold investors often maintain relationships with all three:
- UOB for the Gold Savings Account (DCA accumulation) and ARGOR cast bars (best premiums)
- BullionStar for specialty products, coins, and as a backup when UOB is out of stock
- Silver Bullion for long-term vault storage of larger holdings
The February 2026 crisis taught us: having only one gold dealer is a single point of failure. When UOB sold out and went appointment-only, investors with BullionStar or Silver Bullion accounts could still buy the dip.
The Bottom Line
All three dealers are legitimate, established, and sell genuine LBMA-accredited gold. You won't get scammed at any of them — which is more than you can say for some alternatives. The differences are in premiums, convenience, storage, and product range.
For most first-time buyers: start with UOB for the familiarity and choose between PAMP and ARGOR. As your holdings grow, consider adding BullionStar for variety or Silver Bullion for professional vault storage. The important thing is to start — the "best" dealer is the one that gets you to actually buy gold.
Compare current UOB gold bar prices on our homepage.
Frequently Asked Questions
Which Singapore gold dealer has the lowest premiums?
For larger bars (100g–1kg), UOB's ARGOR-Heraeus cast bars and BullionStar are typically tied at 1–2.5% over spot. For smaller bars (1g–10g), UOB generally offers the lowest premiums. Premium differences of 0.5–1% between dealers are common and can fluctuate with market conditions.
Can I sell gold bought from UOB at BullionStar or Silver Bullion?
Yes. Both BullionStar and Silver Bullion will buy back LBMA-accredited bars regardless of where they were originally purchased. However, you'll typically get the tightest buyback spread selling back to the original dealer. BullionStar is the most flexible on accepting bars from other sources.
Is BullionStar a legitimate gold dealer in Singapore?
Yes. BullionStar is a registered Goods and Services Tax (GST) registered dealer in Singapore, licensed to sell Investment Precious Metals. They've operated since 2012, maintain a physical showroom, and are regularly featured in Singapore media including The Business Times and The Straits Times.
What happened to gold dealer stock during the February 2026 crash?
UOB experienced the most severe shortage — most gold bar sizes and all coins sold out, forcing a switch to appointment-only service from February 13. BullionStar and Silver Bullion maintained stock on most products, though some specific items saw delays. This event highlighted the value of having accounts with multiple dealers.
Should I buy gold online or in person in Singapore?
Both are safe from established dealers. In-person buying lets you inspect bars before purchase and avoid delivery risks. Online buying (BullionStar, Silver Bullion) offers convenience and real-time pricing. UOB requires in-person purchase at their branch. For first-time buyers, visiting a showroom — whether UOB or BullionStar — builds confidence and lets you physically handle different bar sizes before deciding.