In Q1 2024, Singapore surpassed Thailand as the Southeast Asian nation with the largest gold reserves, with a total of 236.60 metric tons. Singapore's gold reserves expanded 45% in Q1 2023, adding 69 metric tons, and has added 45 metric tons in 2024 so far, placing it 22nd in global rankings.
Source: Southeast Asia Link
Singapore overtook Thailand as the Southeast Asian nation with the largest gold reserves as of Q1 2024 with 236.60 metric tons.
Thailand was impacted because it has made no gold this year, and due to a "reporting adjustment" by the Bank of Thailand responding to a new IMF practice of only reporting gold with a purity of 99.95% and greater.
Singapore's gold reserves expanded 45% last year in the first quarter of 2023, adding 69 metric tons, a considerably larger increase than 2024's. This year it has added 45 metric tons so far.
In terms of global rankings, this quarter's gold purchases place Singapore 22nd, its highest ranking since gaining independence in 1965.
According to the World Council Data, showed that Singapore was the only nation in Southeast Asia to buy gold thus far in 2024.
Top 10 Gold Reserves in Southeast Asia (Q1 2024):
Singapore (236.60t)
Thailand (234.52t)
Philippines (159.05t)
Indonesia (78.57t)
Cambodia (42.49t)
Malaysia (38.88t)
Myanmar (7.27t)
Lao (0.88t)
Vietnam (data not available)
Brunei (data not available)
