INSIGHTS
Notes from the refining floor.
Analysis on the Singapore bullion market, refining standards, and the policy and infrastructure that shape physical gold in the region — written from the atelier bench.
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Published from Kreta Ayer. Editorial only — nothing here is investment advice.
Policy
22 July 2026 · 6 min read
How Singapore's IPM tax exemption anchors the region's bullion demand
Since October 2012, Investment Precious Metals have been exempt from GST in Singapore — the quiet policy lever that turned the city into an Asian bullion hub.
Big Deal
Big Deal atelier
Craft
8 July 2026 · 8 min read
Reading the assay: what 999.9 really guarantees
Four nines fine is a chemistry claim, an audit claim, and a chain-of-custody claim — and each one is proven differently. A walk through what an assay card actually attests to.
Big Deal
Refining floor lead
Market
19 June 2026 · 7 min read
Gold's role in a defensive Singapore portfolio
A practical view on how physical bullion sits alongside cash, SGS bonds, and equities in a Singapore-dollar-denominated portfolio — and where the friction points are.
Big Deal
Big Deal atelier
Infrastructure
30 May 2026 · 5 min read
The vault economy: why physical gold sits in Singapore
The Singapore FreePort, bonded warehouse rules, and a jurisdictional read on property rights explain why an increasing share of Asian bullion is stored here rather than shipped through.
Big Deal
Big Deal atelier
Craft
11 May 2026 · 9 min read
From granulate to bar: a walkthrough of the atelier floor
A step-by-step look at how a batch of high-purity granulate becomes a serialized, hallmarked, tamper-evident investment bar — and where the human judgment sits.
Big Deal
Refining floor lead