Malaysian Gold Price Drops to MYR 568.38 per Gram on September 22

The price of Gold in Malaysia dropped on September 22 to MYR 568.38 per gram, down from MYR 569.18 the previous day.

According to FXStreet, which calculates Gold prices by adapting international prices (USD/MYR) to local currency and measurement units, the decrease also affected the price of Gold in other units, including the tola, where it fell to MYR 6,629.49 from MYR 6,638.84.

FXStreet notes that central banks are among the biggest holders of Gold, with many countries increasing their reserves as a safe-haven asset and hedge against inflation and currency depreciation.