Where and How to Sell Gold Jewellery in Singapore

Gold prices are glittering brighter than ever. On October 17, gold hit an all-time high of $4,380 per ounce, marking a 58% increase in just one year and a staggering 800% rise over the past 20 years.

If you’ve been keeping gold jewellery tucked away in your drawers, this might be the perfect time to cash in. But where exactly should you sell your gold in Singapore to get the best value?

Gold prices have hit an all-time high in Singapore. Here’s where you can sell your gold jewellery for the best rates, from pawnshops to jewellers and gold exchanges.

Gold jewellery comes in different variations. The most common are 999 (24K) and 916 (22K), which refer to the purity of gold. The higher the number, the purer (and more valuable) the gold. Prices are usually quoted on a per gram basis — for instance, 999 gold may be selling around $180 per gram while 916 may be quoted at $165 per gram on the same day.

Here are some popular and reputable options.

1. Pawnshops – Fast and Convenient

Pawnshops like ValueMax, MoneyMax, and Maxi-Cash are among the most accessible places to sell gold. They offer instant cash payouts and competitive rates based on the day’s gold price. They can be found across neighbourhoods in Singapore.

Tip: Check prices at a few outlets before you commit. Some branches offer slightly different rates depending on demand. We had checked from different branches of the same chain and were quoted a difference of $20 per gram for the same Gold Jewellery. Not all pawnshops have honest staff, so do your homework first.

2. Jewellery Shops – For Branded or Intricate Pieces

If your gold jewellery comes from brands like Lee Hwa, Poh Heng, or Tiffany & Co., it may be worth more than just its weight. Selling directly to jewellery stores or secondhand luxury platforms such as Carousell Certified Luxury, Goldheart, or Jewel Café may fetch a better price for well-maintained items. Some may buy back their own Jewellery at a slightly higher price.

3. Gold Bullion Dealers – For Pure Gold Items

For 24K gold or gold bars, head to specialised bullion dealers like UOB, BullionStar, or Aspial’s Gold Hub. They typically offer transparent buyback prices pegged to international market rates and handle transactions professionally.

Some Bullion Dealers like BullionStar also take in Gold Jewellery.

4. Online Marketplaces – For Ease and Comparison

Websites like CashConverters.sg, Carousell, or JewelryRecycle.sg allow you to compare offers and sell from the comfort of home. However, exercise caution,  always check the buyer’s reputation and meet in a safe, public place if an in-person exchange is required.

Tips Before You Sell

Know your karat: 24K, 22K, 18K — your gold content determines your value. Most shops would give you a free valuation and verify your Gold Jewellery. If you have receipts, it will be even better

Weigh it accurately: Use a reliable scale or check the shop’s weighing process.

Compare rates: Gold buyback prices can vary daily. Prices also varies between shop, so shop around before you sell

Check rates online :  Instead of visiting pawn shop daily for pricing, you can check the prices online .

Here are some sites to check price

Goldsilvercentral

BullionStar

SK Jewellery

Bring identification: Most buyers require NRIC for transaction records.

Final Thoughts

With gold prices at record highs, selling some of your jewellery can be tempting — especially if you have pieces you no longer wear. However, it’s equally wise to keep some gold for rainy days.

Gold is a good hedge against inflation and often shines during market uncertainty. As an alternative to traditional currencies, it tends to perform well during financial crises or sell-offs. While it’s a great time to realise profits, it’s also prudent to hold on to a portion of your gold as a safeguard for the future.