Gold Prices in Malaysian Ringgit

The standard currency used to calculate the value of a troy ounce of gold is the US dollar. This fact is a relief to anyone inside the US and a headache to everyone else who wants to trade gold.

This page is for those of you who are used to doing business in ringgit. Our interactive chart above allows you to examine the past 30 years’ worth of gold prices in ringgit, not dollars.

Let’s discuss why you’d want to monitor gold in ringgit (beyond the obvious), along with how to use the chart effectively. We’ll also point out some of the highlights of gold’s performance over the years, along with an explanation about them.

Why Monitor Gold in Ringgit?

The first reason to monitor gold in ringgit is extremely obvious. It’s much easier to use your everyday currency over having to make a currency conversion every time you make a decision.

It may also help put the changing gold prices into a clearer perspective. You know what your money buys in Malaysia, so you’ll have much more context with this chart.

The biggest reason, though, is that monitoring gold’s performance in ringgit may yield investment opportunities for you that traders in the US do not have. Because there will always be a currency conversion at some point in the process, there will always be exchange rates to monitor. Thus, you might be able to find times to buy or sell that are unrelated to the actual performance or value of gold, as follows:

  • If the ringgit loses value against the dollar, gold becomes more difficult to buy for Malaysians. As a result, the demand goes down and drags the price with it.
  • If the ringgit strengthens against the dollar, gold is easier to afford. As more Malaysians are inspired to buy gold, demand and the price for an ounce increases.

How to Use the Gold Price Chart

The gold price chart above is designed to allow you the most freedom possible. We have every gold price recorded at the close of business since January 1, 1995.

The first thing to do is to set or select a timeframe for your inquiry. You can pick one of the set time periods with the buttons on the left, or choose “All,” and put a specific date range in the blanks below.

Alternatively, you can adjust the slider beneath the chart to set your beginning and end dates. The slider can be a great tool if you want to compare time periods of the same length side by side.

You’ll notice we have radio buttons for several different financial measures or metrics on the dashboard, too. Each button will put an inverted graph of that commodity’s performance during the same time period. This option allows you to look for any trends or indicators that might suggest where gold might be going in the future.

Then, zoom into any datapoint on the chart for more detailed information by hovering either your finger or your cursor over the point. Just be aware that you may need to shrink your time period if you want more specifics – otherwise, you’ll be getting an average price for a week or a month, rather than the price on a particular day.

Finally, our information in the top left is where things stand during the current day of trading. We keep the spot, bid, and ask prices updated in real time, and we update the highs and lows for the day as they happen.

Gold Price in MYR vs USD

Notable Events that Caused the Price to Shift

Gold is an interesting investment in the fact that its value often moves inversely with most other investment vehicles. As stock prices rise, gold prices tend to fall, and vice versa.

However, gold’s value is also deeply entangled with the world around it, and we can point to specific historical events as the catalyst for major price changes in gold. The table below provides insight into several of them, which may make your investment knowledge more robust and deeper.

Date Closing price (MYR) Notes
May 11, 2006 RM2,579.39 In the early days of our chart, gold was available for less than RM1000. Even as late as 2001, you could still buy an ounce of gold without reaching four digits, and gold still traded beneath RM1600 until July 2005. However, less than a year later, growing concerns about the international debt crisis pushed the price of gold to a new all-time high, having gained roughly 62% in value in just nine months.
September 5, 2011 RM5,660.10 In the five years since the 2006 record, the world economy kept growing worse. The debt crises in the US and Europe rippled outward and affected every economy on the planet. As a result, investors flooded into the gold market in an effort to safeguard the value of their assets and drove demand through the roof. The result was a gold price more than two times the record set in 2006.
August 6, 2020 RM8,667.18 The 2011 record high price for gold would stand for six years until the price wobbled back over the mark by a few ringgit. However, the price of gold hovered around the RM5000 mark until mid-2019. Inflation fears quickly gave way to COVID-19 fears, and by August 2020, it cost more than RM3,000 extra to buy the same ounce of gold as in February 2019.
March 8, 2022 RM8,548.26 This entry is the only one that is not a new all-time record. Rather, it is here to illustrate the relationship between world events and the price of gold. This high price that nearly toppled the record came only two weeks after the Russian invasion of Ukraine began. Thus, unsettled times in the world can cause fear, even if they are in a country fairly removed from the action.
April 21, 2025 RM14,962.94 The 14 months between February 2023 and April 2025 are certain to be studied for the explosive growth gold experienced during the period. The price of gold on Feb. 13, 2023 was $9,491.68 – higher than the 2020 record, but still in the same ballpark. However, thanks to the wars in Ukraine and Israel, along with US President Trump’s new tariff policy, accelerated the demand for gold in a way rarely seen before.
January 28, 2026 RM21,219.37 Apparently, we didn’t understand exactly how explosive gold’s growth could be. Fresh off the record high price achieved in April 2025, the price of gold continued to climb, and robustly so. Fueled by the ongoing geopolitical issues and the addition of a few new ones – namely, the US’ taking of Venezuela’s Nicolas Maduro and Donald Trump’s rumblings about annexing Greenland – the price of gold exploded past 20,000 ringgit…then decided to go past 21,000 ringgit, too.

What Influences the Price of Gold?

The spot price of gold is the price of gold futures contracts with immediate delivery at any given time. More broadly, however, the price of gold is the meeting point between the available supply of gold and the public demand for it.

However, gold is somewhat unique in the fact that external world events can have palpable effects on supply or demand for gold. Thus, we say that the price of gold is influenced by the following elements or events:

  • Geopolitics: The overall safety and security people feel about the world at large is quite influential in how they choose to invest. Generally, any type of wartime is likely to generate nervousness and upset in the market, and people are going to flock to gold as a safe haven for protecting their investment. So, when wars do occur – even if they are cyber or economic – they usually inspire higher gold prices.
  • Technology: Gold is used frequently and integrally in several different industries, including medicine, electronics, and aerospace. Each of these industries is constantly innovating and devising new methods and technologies to perform their jobs. It is quite possible that a technological advance in one of these fields might result in a change, positive or negative, in the demand for gold. Whichever direction the demand goes, the price is likely to follow.
  • Mining logistics: Gold mines are not infinite resources, and getting the ore out of the ground is a time-consuming and difficult process. Were a prominent gold mine to cease its yields, there could be noticeable supply problems that would drive the price of gold up. On the other hand, were there to be a major mine discovery, the new wave of gold flooding the market would pull the price downward since it would have no effect on demand.
  • Economic stability: Gold is one of the most well-known hedges against economic downturns and instability. So, in the cases where the economy feels shaky, gold is likely to see an increase in demand, and the higher demand would beget higher prices. On the other hand, an investor during good economic times is likely more risk-tolerant and doesn’t want to store their wealth in metal.
  • Inflation: When a government prints more currency without a corresponding rise in GDP, it devalues each piece of currency in the set, both old and new. This dilution of value, inflation, pushes many investors to look for safe harbors to guard against the dwindling of their net worths. Gold is probably at the top of the list on ways to fight against inflation, as it provides a tangible store for placing wealth that is unaffected by the issuance of more paper money.

*Please note that this list is not comprehensive. There are several other elements – these are just some of the biggest ones.

The Malaysian Economy

The Malaysian economy is one of the largest in Asia, and is a newly industrialized market economy. The Malaysian economy is both highly diversified and highly competitive. Malaysia is a significant exporter of palm oil products, and it also exports oil from offshore fields.

Malaysia is heavily involved in industry, with much of the country’s workforce involved in the production of electronics and electrical components. Malaysia is also one of the largest producers of photovoltaic cells.

As the Malaysian economy continues to grow and become more advanced, the demand for gold could potentially rise in the future.

World Gold Prices