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Gold prices remained broadly unchanged in Malaysia on Friday, according to data compiled by FXStreet.
The price for Gold stood at 471.51 Malaysian Ringgits (MYR) per gram, broadly stable compared with the MYR 471.51 it cost on Thursday.
The price for Gold was broadly steady at MYR 5,499.60 per tola from MYR 5,499.60 per tola a day earlier.
| Unit measure | Gold Price in MYR |
|---|---|
| 1 Gram | 471.51 |
| 10 Grams | 4,715.10 |
| Tola | 5,499.60 |
| Troy Ounce | 14,665.60 |
FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR)
to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of
publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
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CFDs are complex instruments and come with a high risk of losing
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XM
Forex trading and trading in other leveraged products involves a
significant level of risk and is not suitable for all investors.
Moneta Markets
Risk Warning: CFDs are complex instruments and come with a high risk of
losing money rapidly due to leverage. You should consider whether you understand how CFDs work and
whether you can afford to take the high risk of losing your money. Trading derivatives is risky. It
isn't suitable for everyone; you could lose substantially more than your initial investment.
You don't own or have rights to the underlying assets. Past performance is no indication of
future performance and tax laws are subject to change. The information on this website is general in
nature and doesn't consider your personal objectives, financial circumstances, or needs.
Pepperstone
CFDs are complex instruments and come with a high risk of losing
money rapidly due to leverage. 81.4% of retail investor accounts lose money when trading CFDs
with this provider. You should consider whether you understand how CFDs work, and whether you
can afford to take the high risk of losing your money.
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