Malaysia · MYR · November 2024
Gold Price in Malaysia — November 2024
In November 2024, the gold price in Malaysia closed at approximately RM11,913 per troy ounce, equivalent to RM4,467 per tola or RM383 per gram. This represents a -3.47% change on the month (RM12,341 open → RM11,913 close).
Open
RM12,341
per troy ounce
Close
RM11,913
per troy ounce
High
RM12,341
per troy ounce
Low
RM11,509
per troy ounce
All unit prices at November 2024 close — Malaysia
| Unit | Weight | Closing MYR price |
|---|---|---|
| Troy ounce | 31.1035 g | RM11,913 |
| Gram | 1.0000 g | RM383 |
| 10 grams | 10 g | RM3,830 |
| Kilogram | 1,000 g | RM382,996 |
| Tola | 11.664 g | RM4,467 |
Karat-purity breakdown at November 2024 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KMALAYSIA STD | RM383 | RM4,463 |
| 22K | RM351 | RM4,092 |
| 21K | RM335 | RM3,909 |
| 18K | RM287 | RM3,350 |
| 14K | RM224 | RM2,613 |
| 10K | RM160 | RM1,863 |
Daily gold price in MYR — November 2024
November 2024 gold market: Trump win triggers a dollar-led pullback
BearishA dollar-led pullback from records after the US election.
Gold pulled back from its records in November after Donald Trump's US election victory sent the dollar and Treasury yields sharply higher, prompting profit-taking from about $2,720 down toward $2,560 before stabilising.
What drove gold in November 2024
- Trump election win (Nov 5)
- surging dollar and yields
- profit-taking after record run
- fading election-hedge demand
Key events in November 2024
- Nov 5Trump wins US election; dollar jumps, gold corrects
What happened next
Gold stabilised and consolidated near $2,620 into year-end.
For gold buyers in Malaysia
November's pullback was the year's clearest dip-buying opportunity, driven by a dollar spike rather than any change in gold's structural drivers.
Related months to read
The 2024 gold market: Above $2,500 — breakout to new highs
2024 saw gold break decisively above $2,000 and reach $2,790 by year-end. Central-bank buying continued at record pace. Geopolitical tensions (Middle East, Ukraine) and Fed rate cuts beginning in September drove the rally. Year close: $2,624.
Key drivers in 2024
Fed cuts begin, central-bank buying records, BRICS expansion, Middle East tensions, USD weakness
2024 XAU/USD high
$2,790 (Oct)
2024 XAU/USD low
$1,991 (Feb)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The Malaysia gold market
Malaysia's retail gold market quotes per gram and is concentrated in Kuala Lumpur, Penang and Johor Bahru. Public Gold and Public Bank both offer accumulation accounts that have grown in popularity. The country exempts investment-grade gold from SST (Sales and Service Tax).
Standard quote unit
gram
Common purity
24K
Currency
MYR (RM)
Daily gold price — November 2024, Malaysia
RM12,341
$2,762.28/oz
RM12,278
$2,748.24/oz
RM12,278
$2,748.24/oz
RM12,287
$2,750.09/oz
RM12,285
$2,749.78/oz
RM12,110
$2,710.52/oz
RM12,109
$2,710.43/oz
RM12,001
$2,686.17/oz
RM12,001
$2,686.17/oz
RM11,738
$2,627.24/oz
RM11,701
$2,618.92/oz
RM11,516
$2,577.53/oz
RM11,509
$2,576.05/oz
RM11,684
$2,615.15/oz
RM11,684
$2,615.15/oz
RM11,793
$2,639.53/oz
RM11,864
$2,655.49/oz
RM11,945
$2,673.60/oz
RM12,136
$2,716.40/oz
RM12,159
$2,721.42/oz
RM12,153
$2,720.21/oz
RM11,804
$2,642.02/oz
RM11,876
$2,658.28/oz
RM11,838
$2,649.74/oz
RM11,913
$2,666.35/oz
How Malaysia gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The MYR/USD exchange rate comes from exchangerate-api.com's 2024 year-end snapshot.
Conversion. Every MYR figure on this page is computed as XAU/USD price × MYR/USD rate. We use the year-end exchange rate consistently across all November 2024 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Malaysia, add the country-specific levies described in the “Malaysiagold market” section above.
FAQ — Malaysia gold price in November 2024
What was the gold price in Malaysia in November 2024?
In November 2024, gold in Malaysia opened at RM12,341/oz and closed at RM11,913/oz — a move of -3.47% on the month. Per tola: ≈RM4,467; per gram: ≈RM383; per 10g: ≈RM3,830.
What was the 24K gold rate per tola in Malaysia in November 2024?
The 24K gold rate per tola in Malaysia at the November 2024 close was approximately RM4,467, derived from international XAU/USD spot of $2,666.35/oz times the 2024-end MYR/USD exchange rate of 4.4677. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Malaysia in November 2024?
Malaysia's most-quoted retail standard is 24K per gram. At the November 2024 close, that worked out to approximately RM383 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
MYR prices on this page are computed from the verified international XAU/USD spot price for November 2024 (sourced from gold-api.com), multiplied by the 2024-end MYR/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The RM figures here represent the international gold spot price converted to MYR at the 2024-end exchange rate. Malaysia's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Malaysia? See live gold prices in Malaysia with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2024 archive or the USD-only November 2024 page with the country-by-country list at the bottom.
Other markets? Compare November 2024 prices across other major gold-trading countries: Indonesia, Singapore, Thailand, Philippines, Vietnam, Brunei.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to MYR at the 2024-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Malaysia before transacting.