What is the gold price Malaysia today? For those interested in investing in gold, it is important to know the price of gold today. This can help you maximize profits and reduce any potential risks. However, you are also advised to ensure that gold transactions are conducted by trusted sellers or agents, as gold investment can be a scammer’s trap to deceive potential investors.
Gold Price 916 Today Per Gram in Malaysia
Like any other investment available in Malaysia, whether low-risk or long-term investments, the price of gold today in Malaysia also experiences an increase or decrease trend every day, which usually depends on the current economic situation.
|Gold Purity||Current Gold Price (RM/gram)|
Note: Gold Price Today 2022 (especially Gold Price 916 today), updated as of 24-06-2022.
The gold price per gram today in Malaysia shown above is for reference only, and it changes every day. Therefore, the best way to get the current gold price is to check reliable sources, especially if you are interested in starting a gold investment. This will enable you to calculate the gold price today and estimate the future gold price to avoid losses.
Gold Price Malaysia: 7 Factors Affecting Current Gold Prices
In general, fluctuations in the current gold price are influenced by several factors such as the current economic situation, political stability, and so on. In addition, the Covid-19 pandemic has also affected the current gold market as investors now start to shift to gold investment to reduce the risk of loss. Here are seven factors that affect the gold price today in Malaysia:
1. World Economy
During the economic crisis in the United States in 2008, many people chose to store gold because they believed that the value of paper currency would fall. This situation, in turn, caused the price of gold to skyrocket.
2. World Politics
World political situations also affect the gold price in Malaysia. For example, the political crisis in the United States and Iraq caused many people to worry about the possibility of war. This caused many people to shift to gold, causing the gold price to rise.
3. Increased Demand
An increase in demand for gold causes the gold price to rise. China and India are the world’s largest gold buyers. Typically, the price of gold will surge when demand from both of these countries increases. In India, for example, the demand for gold will increase during the wedding season around September-October.
Inflation causes the country’s economic market to become uncertain and is one of the main factors causing the price of goods to increase, including the price of gold in Malaysia. In general, the higher the inflation, the higher the gold price. Therefore, many people choose to invest in gold due to its more stable price factor during inflation. This indirectly causes the demand for gold to increase and subsequently increase the price of gold.
5. Interest Rates
In addition to being influenced by the world’s economic and political situations, the price of gold is also influenced by interest rates. When interest rates fall, gold investment becomes the choice of many people, causing the gold price to rise.
6. United States Dollar (USD) Exchange Rate
The value of the US Dollar is said to have a negative correlation with the price of gold. If the strengthening of the US dollar occurs, the gold price will experience a decline and vice versa. The higher the value of the US dollar compared to other currencies, the lower the gold price.
7. Oil Price
An increase in oil prices is usually followed by an increase in gold prices. However, the effect is not immediate. Rising oil prices can cause excessive inflation, which in turn can lead to an increase in gold prices.
Nevertheless, there are other factors that also influence the price of gold per gram today. In Malaysia, the price of gold usually depends on the quality of the gold (whether it is 999 gold or 916 gold), the reputation of the shop, labor costs, or other charges. Usually, the price of gold that buyers need to pay differs because each seller can set their own buying and selling prices. Moreover, different locations, such as Kuala Lumpur and Terengganu, will also see differences in gold prices.
Hopefully, the information on the price of gold in Malaysia can help you make the best decision before starting to invest in gold. In addition, if you are planning to buy motorcycle insurance, visit the Qoala website for further information. Qoala provides several options for motor insurance from several of the best insurance companies, depending on your needs and budget.