SINGAPORE: UOB customers who wish to buy gold or convert their holdings into physical gold at the bank’s main branch at Raffles Place will have to do so by appointment only from Feb 13.

Amid a recent surge in demand, UOB will also extend the operating hours at the gold counters by one-and-a-half hours.

From Feb 13, gold counters for purchasing bullion will open from 9.30am to 6pm on weekdays (excluding public holidays), instead of closing at 4.30pm. 

Walk-in gold purchases or conversions will no longer be accepted.

“With this measure, wait times should be reduced and customers can be served at the timing of their reservation,” UOB said in a media statement on Monday (Feb 9), adding that appointments can be made on its website from 6pm on Feb 12.

“For customers who wish to sell gold back to us, they will still be able to do so at the gold counters without making an appointment from 9.30am to 4.30pm, Mondays to Fridays, excluding public holidays,” UOB said.

UOB is Singapore’s only bank offering physical gold products to retail investors. 

As prices plummeted last week, people were reportedly queuing to buy gold, with customers crowding into a lounge for bullion transactions at UOB Plaza 1. 

The price of gold has seen several wild swings in 2026, surging to a record high of more than US$5,500 per ounce towards the end of January before dipping below US$4,500.