Gold prices have surged past RM650 per gram, prompting a rush to jewellery shops and pawn outlets as Malaysians look to sell gold for quick cash.
According to Kosmo, many see the current market as the best time to sell long-kept gold, either to cover daily expenses or to prepare for Ramadan and Aidilfitri celebrations.
In Kuala Terengganu, 58-year-old Wong sold a gold bracelet she had kept for over 30 years, earning RM80,000. “I only came to ask about the price and did not expect it to be worth that much. I decided to sell it immediately,” she said.
Syamira Nazuha Malek, 29, reported that jewellery she bought three years ago had already doubled in value. “Whether you hold on to gold or sell now, you won’t lose,” she noted.
At Pasar Payang, jewellery shop owner Nursheila Majid said customers were not only selling gold but also exchanging old pieces for new designs. In Kuala Lumpur, pawn outlets reported brisk business, with clients arriving as early as 9am to redeem items for resale.
Roslinda Jasni, a 32-year-old housewife, chose to redeem her pawned gold after learning about the price increase, aiming to sell at a higher rate.
In Kota Bharu, Dhia Gold salesperson Hidah Yusoff said shops were seeing over 20 customers daily, with gold selling at RM613 per gram and used gold at RM582 per gram. Buyers were coming from Pahang, Selangor, and even Thailand.
Industry observers say the trend shows strong public confidence in gold as a stable investment amid economic uncertainty.
On Sunday, global gold prices hit a historic high of US$3,355 per ounce (about RM651.50 per gram), driven by geopolitical tensions and market volatility, partly linked to recent US policy announcements. Silver also surged to US$102 per ounce for the first time last Friday.
