Singapore Bullion Market Association

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WGC and SBMA Elevate Industry Standards with 2024 Bullion Academy



In a collaborative effort spanning the past year, the World Gold Council (WGC) and SBMA have once again launched a specialised training initiative aimed at enhancing expertise within the gold industry.

The Bullion Academy, held on January 23, 2024, in Singapore, attracted nearly 30 participants from various sectors, including esteemed speakers and panellists. Attendees represented various sectors within SBMA, including bullion banks, refineries, logistics and storage providers, jewellers, and research institutions.

The objectives of the Bullion Academy are clear and focused:

  • Knowledge Enhancement: Providing insights into the global bullion industry and promoting gold as a valuable asset class.
  • Talent Development: Cultivating a new generation of professionals and fostering a skilled workforce.
  • Raising Professional Standards: Upholding ethical conduct and professionalism within the industry.
  • Boosting Singapore’s Role in the Industry: Positioning Singapore as a centre for bullion market education in the region.

The program targets students, interns, and early-career individuals in the bullion market, offering sessions on various topics such as the global bullion market overview, investment case for gold, bullion trading basics, and global standards including ethical sourcing and responsible mining.

Hosted by Enterprise Singapore (ESG), the Bullion Academy featured a day-long workshop with informative presentations and a panel discussion led by industry experts. Attendees actively participated in discussions, expressing appreciation for the valuable learning experience provided.

The success of the Bullion Academy underscores the importance of ongoing education and collaboration within the gold industry, setting the stage for future initiatives aimed at elevating industry standards and knowledge.

Special thanks to ESG for hosting, SBMA, and WGC for organising speakers and panellists: Andrew Naylor from WGC, Albert Cheng from SBMA, Sean Mulhearn from Jacaranda Capital Partners, Nikos Kavalis from Metals Focus, and Adrian Goh from YLG Bullion.

SBMA/WGC plan to conduct several training sessions each year in Singapore and across the region. For more information, please contact SBMA at

Albert Cheng, CEO of SBMA, provided participants with an overview of the global bullion market.
Andrew Naylor, WGC’s Head of Middle East and Public Policy, spoke about the Investment case of gold and global standards.
Sean Mulhearn, Principal of Jacaranda Capital Partners, who discussed the basics of bullion trading and best practices in risk management.
Panel Discussion – Sharing with the industry gurus, featuring Sean Mulhearn (Jacaranda Capital Partners), Andrew Naylor (WGC), Adrian Goh (YLG Bullion), Nikos Kavalis (Metals Focus) and Albert Cheng (SBMA).