31 January 2026
BullionStar Trading Update
In light of the historic correction and the ongoing uncertainty surrounding physical supply, we carefully assessed whether it would be responsible to continue accepting orders over the weekend. After thorough consideration, we decided to remain open and continue offering physical precious metals for sale, albeit at elevated premiums that reflect current physical market conditions.
Due to our early and proactive efforts to secure inventory at the first signs of increased demand and emerging supply shortages, we are still able to offer a broad range of physical precious metals, although some items are currently sold out. By contrast, many competitors have little to no readily available physical stock whatsoever, underscoring the severity of current supply constraints.
We will reassess premium levels at the beginning of next week, once spot trading resumes and physical wholesalers and suppliers reopen. At present, it remains uncertain whether we will be able to acquire any additional inventory at all. Over the past week, it has already become difficult to near-impossible to source physical silver in particular. Many mints and refineries are no longer accepting new orders, while those that do are operating with severe backlogs extending into April or beyond.
Market Conditions
Gold and silver reached new all-time highs on Thursday, followed by a historic correction over Friday and Saturday. The extreme volatility in the paper trading markets once again highlights how flawed and fragile these markets have become.
Throughout this period of market revaluation, we have firsthand witnessed extreme and unprecedented physical demand. At the same time, replenishment options have become increasingly scarce, with physical metals drying up and mints operating under enormous backlogs. In such an environment of constrained supply and sustained physical demand, sharp price declines in the paper markets are difficult to reconcile with the realities of the physical precious metals market.
Service Expectations
We want to be transparent about what this means for service expectations, while reassuring you that we continue to offer physical precious metals under the conditions described above.
Online customer buy orders
Dispatched for shipping or transferred to vault storage within 8 business days from payment received (or from the stated pre-order availability date, if later), subject to standard verification procedures.
Shop transactions
Please expect long queues for in-store purchases, sales, and enquiries. Customers wishing to buy in person are strongly encouraged to place and pay for orders online in advance to reduce waiting times.
Customer sell orders
Processed and funds released within 8 business days of receiving your sell transaction, subject to standard verification procedures.
We kindly ask customers not to contact our support team for order status updates if your transaction falls within the timeframes above. This allows our team to focus on fulfilment and serve all customers as efficiently as possible during this exceptional period.
Temporary minimum order value for buy and sell orders
To manage volumes and ensure safe, reliable operations during this period of extreme market stress, we have introduced a temporary minimum order value of S$20,000 (or equivalent in other currencies) for customer buy and sell orders, both online and in-store. Vault storage sell orders are exempted.
This decision was not taken lightly and will be reviewed and relaxed as soon as market conditions allow.
Our team is working extended hours, and we are scaling operations as aggressively as possible, including ongoing hiring, to meet demand. While response times may be longer than usual, we are actively exploring additional ways to improve service levels.
Thank you for your patience and continued trust in BullionStar. We genuinely appreciate your understanding during this extraordinary period.
Kind Regards,
Torgny Persson
Founder/Chairman of the Board, BullionStar
30 January 2026
Dear Customers,
The precious metals markets are moving at an extraordinary pace. Gold and silver have reached new all-time highs, and demand has surged to levels unprecedented in BullionStar’s history.
We want to be transparent about what this means for service expectations, while reassuring you that we continue to have physical precious metals available.
Current service timeframes
Online customer buy orders – Dispatched for shipping or transferred to vault storage within 8 business days from payment received (or from the stated pre-order availability date, if later), subject to standard verification procedures.
Shop transactions – Please expect long queues for in-store purchases, sales, and enquiries. Customers wishing to buy in person are strongly encouraged to place and pay for orders online in advance to reduce waiting times.
Customer sell orders – Processed and funds released within 8 business days of receiving your sell transaction, subject to standard verification procedures.
We kindly ask customers not to contact our support team for order status updates if your transaction falls within the timeframes above. This allows our team to focus on fulfilment and serve all customers as efficiently as possible during this exceptional period.
Temporary minimum order value for buy and sell orders
Buy Orders – To manage volumes and maintain service quality, we are continuing our temporary S$10,000 minimum order value for customer buy orders, both online and in-store.
Sell Orders – Additionally, we also have a temporary minimum sell order of S$20,000, excluding vault sell. Selling from vault storage will continue as normal.
This decision was not taken lightly but is necessary to ensure safe, reliable operations. We will review and relax this policy as soon as conditions allow.
Supply conditions
On the supply side, restocking has become more challenging due to tightening refinery and minting capacity, particularly for silver. As a result, some products may be offered on a pre-order basis and immediate delivery options may be more limited. That said, we have worked hard to remain well stocked across a broad range of fully allocated and securely held products. BullionStar does not speculate or sell unsecured inventory.
Our team is working extended hours, and we are scaling operations as aggressively as possible, including ongoing hiring, to meet demand. While response times may be longer than usual, we are actively exploring additional ways to improve service levels.
Thank you for your patience and continued trust in BullionStar. We genuinely appreciate your understanding during this extraordinary period.
Kind Regards,
Pete Walden
Deputy CEO, BullionStar
23 January 2026
Dear Customers,
The precious metals market has seen a surge in global retail demand in recent weeks across both gold and silver with both metals making all-time highs on a regular basis. January is shaping up to be the busiest month in BullionStar’s history.
In December 2025 and January 2026 alone, we sold more than 65 tonnes of silver, worth close to S$230 million, with silver sales exceeding gold sales in total revenue during this period, which is highly unusual for our business.
Service levels and minimum order policy
This environment, while exciting, also brings operational challenges, and we want to be fully transparent. Our team has been working extended hours to keep up with demand, but customers may experience longer than usual response times from customer support, as well as slightly extended shipping and vault storage processing times. We sincerely regret these delays and appreciate your patience as we work through unprecedented volumes.
To help manage demand and maintain service quality, we introduced a S$5,000 minimum order value. This decision was not taken lightly. BullionStar’s philosophy has always been to remain open and accessible to everyone. With the minimum order in place, we are able to manage current volumes effectively. Without it, the volume of orders would exceed what we can physically handle, even as we scale as aggressively as possible. We regret any inconvenience this causes and will continue to review this policy as conditions allow.
Supply and product availability
On the supply side, restocking has become increasingly challenging. We are seeing tightening refinery and minting capacity, along with growing shortages of physical precious metals in multiple markets. Premiums are rising, particularly for silver, where availability is becoming more constrained.
Despite this, we have worked hard to remain well stocked across a broad range of products. Customers may notice a more limited selection for immediate delivery, with some items offered on a pre order basis. All pre order products are fully secured and allocated to BullionStar. We do not speculate or take unsecured inventory positions.
Thank you for your continued trust and understanding. Your patience during this extraordinary period is genuinely appreciated, and we remain fully committed to the service, transparency, and reliability you expect from BullionStar.
Yours sincerely,
Pete Walden
Deputy CEO, BullionStar
