KUCHING: Gold is considered as ‘safe haven’ by many arguably because it is treasured for its value that keeps spiralling every year.
According to the World Gold Council, gold prices hit a new record again last month.
In fact, it was reported to be 9.9 per cent higher in March compared to February.
The price is dependent on the strength of the US dollar. When it weakens, gold becomes cheaper for buyers using other currencies.
Here in Malaysia, the price for one gram of gold is reaching up to RM500.
In an uncertain economic climate, gold has once again proven its effectiveness as a safeguard for value.
Hence, gold can be a rewarding and reliable asset. But is it worth it?
Padiah Abas, 25, Boutique Manager:
To me, there are good and bad sides. What’s good is that it will be an advantage to those who have been investing in gold for years. Or those who really like buying gold for its increasing value each year. The reason for this is when they intend to resell it, it will give them some sort of satisfaction seeing that their patience has led to undeniably profitable results.
The downside of it might be felt by those who have just started buying gold. At the price rate of RM500 per gram compared to years and years ago where it was as low as RM80, it might not feel worth it. Especially those whose patience is as thin as glass. Gold is a long-term investment. You cannot expect the price will shoot up in a week or two. If you don’t have the patience, do not go for it as the Malay saying goes, you will not “menikmati hasil yang dituai”.
Hamri Hairol, 24, Businessman:
Just like previous years, predictions on the rise of the gold price never fails to amaze me. For me, it is an opportunity for us to save money or do business because the price is unstable but for most of the time it is leaning towards a gain and almost never a loss. It’s a huge win for individuals who have been saving gold for years and are now looking to sell it.
Amellda Sim, 23, Student:
The recent rise in gold prices to RM500 per gram feels expected given the current economy. I remember it being RM400 a few years ago, and I believe it’ll keep rising, especially as gold is now seen as both jewellery and a long-term investment. While it’s a stable option, the high price makes it less accessible for newcomers like me with limited financial capacity. I’m encouraged to invest through digital platforms, but I’m cautious about buying during a price surge and prefer waiting for a dip. On the jewellery side, rising costs may affect affordability, though jewellers are adapting with lighter or mixed-metal designs. With gold holding its value, owning it now feels even more meaningful, almost like wearing your savings.
Abdullah Firdaus Abdul Aziz, 24, HR Assistant:
The recent spike in gold prices in Malaysia to RM500 per gram has had a notable impact, especially on finances, family responsibilities, and future planning. For men who are breadwinners, it presents an opportunity for profit, particularly for those who have long invested in gold, as it remains a reliable asset during economic uncertainty. However, it also poses challenges especially for single men planning to marry, as high gold prices can make traditional dowry practices burdensome. This situation highlights the growing importance of financial literacy, encouraging people to learn about smart saving, investment, and financial planning in a world that demands greater adaptability.
