FY 2024 (July 1, 2023 – 30 June 2024) was another strong year for Bullionstar. Sales income reached SGD 423.5 million, an increase of 6.76% compared to FY 2023.
Precious Metal Price Trends
Gold Price
- Spot Gold: Closed FY 2024 at USD 2,326, up from USD 1,919 on July 1, 2023 – a gain of 21.2%.
- Gold briefly exceeded its highest height of $ 2,075 per Troy ounce on December 4, 2023. On March 1, 2024, however, it broke through this level and continued to move higher.
Silver price
- Spot Silver: Closed FY 2024 at USD 29.15, up from USD 22.73 on July 1, 2023 – a gain of 28.2%.
- Silver traded between USD 20.75 and USD 25.60 for most of the year before breaking out in April 2024 and eventually peaking of USD 32.50 on May 20, 2024.
Record-high sales-to-buy-related tops of 0.94 in November 2023 and March 2024
Relationship between sales and purchases reached 0.94-the highest in recent years two years during the FY 2024:
November 2023: Significant sales occurred as gold approached its high time, and silver approached an upper level of resistance, although none of the meters broke out then.
March 2024: Gold resolutely surpassed its earlier record high and pushed silver to follow and break out of its trading area.
Through our seamless online platform, customers can quickly sell gold. Customers who use our safe, fully revised and insured Vault can sell orders online.
Our transparent pricing and immediate settlement provides a safe and efficient sales experience.
Gold ETF outflows lasted throughout FY2024 in spite of rising gold prices
Despite rising gold prices, global gold -Tfs saw their net positions reduced during the first three quarters of FY 2024. When seen as a proxy for gold etf -investor atmosphere, it can be deduced that gold ETF shareholders missed a significant part of Guldrally.
Following Gold’s decisive breakout in March 2024, Gold Etf Investim’s Sentiment changed course, resulting in net flow — a indication of trend-continuous behavior.
What months did the most buying activity at Bullionstar saw?
April 2024 & October 2023 led the wave
April 2024:
3,963 buy orders, driven by Gold’s historic outbreak over its previous high times in USD and Silver’s significant increase out of its trading channel.
October 2023:
3,584 purchase orders were placed, spurred by geopolitical tensions following the Hamas-led attack on Israel on October 7, 2023. The resulting uncertainty increased the gold by approx. 7.3%, which increased demand as investors sought the security garden.
These months emphasize the influence of global events and market movements on investor behavior.
Silver – the overlooked, yet unique artist
- Gold rose 21.2% in FY 2024 and catches widespread media uprising to hit new record heights.
- Silver rose 28.2% over the same period, but attracted, but attracted much less media coverage.
- Silver remained largely under the radar despite overshadowing gold as a percentage, providing significant options for those who asked its performance.
Bullionstar Financials FY 2024 – Years in Review – Sales
Total Sales Revenue: SGD 423.5 million
Sales per Product category
- Gold: 68.23%
- Silver: 30.1%
- Other metals (mainly platinum): 1.67%
This collapse mirroring the distribution in FY 2023.
Gold products
Within gold rods:
In the field of gold coins:
Silver products
Within silver rods:
Within silver coins:
Customer orders
- Buy orders: 38,515 (up 16.6% from 33,033 in FY 2023)
- Average Order Size: SGD 10.994.90 (down from SGD 11.913.37 in FY 2023)
- Median Order Size: SGD 1.001.01 (down from SGD 1.177.39 in FY 2023)
As a global gold dealer registered Bullionstar sales from customers in 102 countries during the FY 2024. Since our launch in 2012, we have served customers in over 130 countries.
Website traffic
Bullionstar.com Visit: 3,703,049 (an increase of 21.5% compared to FY 2023), demonstrating increased consumer interest in precious metals
Bullionstar launches live auctions
We launched Bullionstar auctions to give customers opportunities to offer excessive bullion and rare, collecting objects.
Our innovative approach has enabled customers to secure offers of highly sought-after collectibles for unique value-eggs under retail prices and for significant discounts.
- Since October 2024:
- Over 63,000 bids placed
- 700 auctions were completed
Two main auction categories
Bullion auction agreements
- Overstocked Bullion Inventory
- Make prizes and significant discounts
- Potential to win at the prices below the place
Rare and exclusive auctions
- Historical coins, rare collectibles and releases of limited edition
- Ideal for investors and collectors seeking unique options
Now visit to browse our exclusive auction articles. Grab your chance to find unique offers and rare treasures – you won’t miss this opportunity!
Previous financial reports
Bullionstar Financials FY 2023 – Year in Review
Bullionstar Financials FY 2022 – Years in Review
Bullionstar Financials FY 2021 – Years in Review
Bullionstar Financials FY 2020 – Year in Review
Bullionstar Financials FY 2019 – Year in Review
Bullionstar Financials FY 2018 – Year in Review
Bullionstar Financials FY 2017 – Year in Review
Bullionstar Financials FY 2016 – Year in Review
Bullionstar Financials FY 2015 – Year in Review