Gold prices in Malaysia fell on Friday, based on FXStreet data. Gold was MYR 595.13 per gram, down from MYR 599.33 on Thursday.
Gold was MYR 6,941.56 per tola, compared with MYR 6,990.50 a day earlier. Other listed prices were MYR 5,951.36 for 10 grams and MYR 18,510.05 per troy ounce.
How FXStreet Calculates Local Gold Prices
FXStreet converts international gold prices into Malaysian ringgit using the USD/MYR rate and local measurement units. The figures are updated daily at the time of publication and are for reference, as local prices may vary.
Central banks hold the most gold and added 1,136 tonnes worth about $70 billion in 2022, according to the World Gold Council. This was the highest annual total since records began, with China, India and Turkey among the countries increasing reserves.
Gold often moves inversely to the US Dollar and US Treasuries, and can also move opposite to risk assets. Geopolitics, recession fears, interest rates and the US Dollar can affect prices.
The small dip in gold prices should be viewed as a short-term fluctuation, not a change in the underlying trend. We see the broader economic environment becoming more favorable for the precious metal in the coming weeks. The key factors to watch are central bank actions and the direction of the US dollar.
Market Outlook For Gold
We are paying close attention to recent signals from the US Federal Reserve. After holding interest rates elevated through 2025 to control inflation, the minutes from the March 2026 meeting now suggest a potential pivot to rate cuts later this year as economic growth slows. Lower interest rates decrease the opportunity cost of holding non-yielding gold, which should boost its appeal.
This changing interest rate outlook is already weighing on the US Dollar, which has an inverse relationship with gold. The Dollar Index (DXY) has slipped from around 104 to 101.5 over the past month, providing a significant tailwind for dollar-denominated assets like gold. We expect this dollar weakness to continue as markets price in future Fed rate cuts.
Central bank demand remains a powerful force supporting the market. Following the record-breaking purchases we saw in 2022 and 2023, central banks globally added over 950 tonnes to their reserves in 2025, signaling a continued strategy of diversification away from the dollar. Early data from the first quarter of 2026 shows this trend is not slowing down.
Given these factors, derivative traders should consider recent price weakness as an opportunity. We see value in positioning for upward movement in the next two to three months, perhaps using call options to capitalize on potential gains. The latest March 2026 inflation reading, which came in at a persistent 2.9%, also reinforces gold’s role as a hedge against slowly eroding purchasing power.
