The Ringgit is strengthening against the USD, and I estimate it might fall to around RM3.90 or lower soon.

My next selling target is gold at $3,000 per ounce, which would mean a rate of RM4. At this gold price, the cost would be approximately RM380 or more per gram.

Is buying 1gram of gold bar with accredited from LBMA from a jewelry shop is an worth investment?

Is now not the right time to collect 1 gram gold bar?

still, be cautious... for short, mid term.

for long term, close yr eyes & relax...

Buy back already reach RM370/g (MS Gold) at USD2710/ouch today.

Time to lock in some profit before MYR strengthen further, and re-purchase when gold price goes down + MYR strengthen?

Sharing my experience with fellow brother and sisters.

Went over to MS Gold on last Saturday and sold some of my 999.9 gold bar/beans bought from Shopee, and my parent jewelry.

The process for selling gold was pretty fast, took about less than 30 minutes for me since I wasn't selling a lot.

The staff would inform the rate of buying the gold from me, and ask for confirmation whether I want to proceed.

Once confirmation is given, for gold bar/gold bean, it was pretty straight forward, the staff would then cut off the packaging to get the gold bar, and place the 999.9/999 gold bars and beans into a plastic bowl (those green plastic bowl used in hawker stall).

For jewelries, they will sort out the jewelries by separating the 999, 916, 835 and 750 into separate bowls. For those jewelries that  they aren't sure of, the staff informed me that they will need to use machine to scan the gold to check for authenticity.

All the cutting, sorting and separation into different bowls are done in front of me.

Once sorted out into different bowls, they will need to scan all the gold sorted , including those gold that may be seen as not authentic. They will bring into the gold into separate room, and the scanning process is done in separate room, outside of my view. Personally I don't have issue with it if it's just only gold bars/bean since I know how much gram of gold bar/beans I have.
For jewelries, since I did not sort them out and weight them before dropping by, I could only tell myself to trust and believe that everything was done properly outside of my view.

Once they have scan it, they will bring the gold and jewelries (in different bowls) out, and inform the final result of gold.

For gold that aren't authentic, they will return it back to you. During this process, I was asked to pick out the gold or jewelries that Iwould like to keep and not sell. Once I have gone through all the gold and decided the final gold/jewelries to sell, they will then weight the jewelries in front of me, print out the weight of the jewelries for each of the bowl of gold/jewelries, and calculate the final price that of each of the bowl of gold/jewelries, and the final amount for all the gold I was selling.

Once I've given confirmation to proceed, they have given the option to take cash or direct bank transfer. The staff would then take the bowls of gold/jewelries  into other room, whereby they will process the final part, which is to photostat my IC (in front of me), print out a receipt for your signature, and the money is transferred to my bank within 10 minutes.

Once I've validated the amount transferred to my bank, it was time to say bye bye to the nice lady that was attending to me and many other customers that were going in/out from the out.

While I was leaving, I saw a few more couples dropping by the outlet. Business was good for them.

That's my story and experience selling gold bought from Shopee for the first time. No issue with the gold bought online, no question ask by MS Gold, in fact they didn't even asked for the sale receipt/invoice of the gold.

Just a few more notes:
1. Initially I thought that from the MS Gold website, for 999.9 gold, MS Gold would be buying at the rate under our rates > We buy, which is RM373 (Circled in Red). But my assumption was wrong. MS Gold is using the rate from Customer Sells > We buy, which is RM366 (In Green Box). MS Gold seem not having different rate for 999.9 and 999 gold, all the same price at RM366. Nevertheless, RM366 is still way better than all famous jewelries shops in the mall, which I also asked on Saturday and was told for 999 gold, the rate they are offering for buy back is RM420(current 999 rate) - 25% = RM315/g, and for 916 was RM390 - 25% = RM292.50/g (MS Gold=RM336).

2. The buy back rate according to the website is RM366.34. MS Gold will use the round figure RM366 as the rate as the buy back price, and  they would also round down figure on the final amount, e.g: if you total weight is 11.12g, 11.12g x RM366 = RM 4069.92, you will be offered RM 4069.00.

3. MS Gold do not buy silver jewelries. They said they only buy 1KG and above silvers.
4. MS Gold do not buy platinum jewelries as well. Anyone know where I can sell Platinum Jewelries?



Sekian, Terima Kasih. Thank you for your patient listening to my long story.

Note that I'm not an employee of MS Gold, nor I'm affiliated with them, nor I'm a financial advisor. This is based on my own experience and for info sharing purposes.

Bro Sitting Duck, definitely one of the best info sharing. Thank you. Two takeaways :
1. Readers now understand best NOT to sell back to jewellery shop.
2. On the receipt, was there any mention that you sold them gold and breakdown details? I'm just thinking ahead if PMX oso pondering on gold capital gain tax.

Inviting fellow Bro Prophetjul to share his valuable thoughts. Sekian

not in budget 2025.

but there was smoke about tax on "luxury items"... may come in budget 2026.

i guess lapiji need to spend more time to decide what is considered a luxury item.

if salmon at rm49.90 a kg and avocados are considered luxury, v high chance gold will be.

question is if it will include gold jewelry, gold bars, gold shop stock, gold miner stock, local, foreign...??

for now, lapiji is overwhelmed by how to classify T15.

congrats, shud be there already!
Date $/oz RM/g RM/$

21 oct 2732 378.05 4.304
19 oct 2721 376.62 4.304
18 oct 2700 374.0 4.310
16 oct 2680 370.0 4.293
15 oct 2654 367.90 4.311
11 oct 2652 365.62 4.288
4 oct 2662 362.4 4.234

"Overbought conditions on all larger timeframes, which warn of corrective action, were so far ignored, though limited corrective easing cannot be ruled out in the near future."

Could be a short squeeze going on. Silver too.

Cash only. But I never try big amount like 5 digits la.
1. I think we all refer to the KL one.
2. Depends where you bought it.

I visited Razak Masjid Jamek last Sunday where their cash vault had been emptied by people selling their gold. In the end, they completed the transactions via bank transfer.

Heh! If Bro involved in selling your hoard, bank tak cukup liquidity....most probably need  Bank Negara direct intervention, or trigger OPR.

Significant fluctuations may occur around the U.S. presidential election, and when Bank Negara Malaysia (BNM) cuts rates at November, the resulting price squeeze could be substantial!

Gold at $2850 per troy OZ
1 USD = 4.45MYR

1 gram of gold is approximately RM407 !!!

Walao...

Already hit 400/g already

It's getting higher by the day...

Keep longer, might even get 450/g by next end month 😔

Gift her some of your old stock