Many people look at gold priced against the Singapore dollar or the United States dollar. Let me present to you a different way to look at gold today.

In the 1970s, an ounce of gold was averaging around the 200 USD mark, which makes it around 340 SGD (assuming 1.70 SGD to 1 USD). An average 646 square feet 3-room HDB flat cost 15,000 SGD. That makes the price of a flat just over 44 ounces of gold.

In the 1980s, an ounce of gold was averaging around the 450 USD mark, which makes it around 765 SGD (still assuming 1.70 SGD to 1 USD). An average 646 square feet 3-room HDB flat cost 50,000 SGD. That makes the price of a flat around 65.4 ounces of gold.

In the 1990s, an ounce of gold was averaging around the 350 USD mark, which makes it around 530.25 SGD (assuming 1.515 SGD to 1 USD). An average 646 square feet 3-room HDB flat cost 120,000 SGD. That makes the price of a flat around 226.3 ounces of gold.

In the 2000s, an ounce of gold was averaging around the 800 USD mark, which makes it around 1,290.40 SGD (assuming 1.613 SGD to 1 USD). An average 646 square feet 3-room HDB flat cost 110,000 SGD. That makes the price of a flat around 85.25 ounces of gold.

From the 2010s to present day, an ounce of gold is averaging around the 1,530 USD mark, which makes it around 2040 SGD (assuming 1.333 SGD to 1 USD). An average 646 square feet 3-room HDB flat cost 291,000 SGD. That makes the price of a flat around 142.65 ounces of gold.

Generational wealth could have been passed down in gold, and not lost as much value as if it was passed down in a bank account. From the 1970s till now, price of a flat has risen by roughly 3.2 fold in terms of gold, but 19.4 times in SGD terms.

Sources: HDB, Edgeprop.sg, FT.com#gold#goldrealestateratio