IPOH - A sharp and rapid decline in gold prices has been described as unusual, triggering increased customer traffic at jewellery outlets across the city as buyers take advantage of lower prices.
DS Jewellers Managing Director Datuk Amaluddin Mohammed Ismail said the trend contrasts with the period when gold prices exceeded RM700, which saw slower trading activity.
“In the past when prices were high, business was rather slow. But now that prices have dropped, the shop is crowded again.
“Additionally, it is the holiday season and many customers from outside the city are coming to purchase. We hope prices will continue to decline so that people can afford to buy and business circulation continues,” he said.
He added that gold prices, which were around RM520, could fall to RM500 within minutes, reflecting the speed and scale of the current decline.
“This decline is clearly significant. Even during this interview alone, the price has already fallen by RM20. It shows a rather unusual drop,” he said.
Checks at several jewellery outlets found that customers are closely monitoring price movements and making prompt decisions to purchase while prices remain relatively low.
Customer M Mahadevi, 38, said she decided to visit a gold shop after seeing that current prices were significantly lower compared to previous levels.
“Gold prices once reached around RM760. Last year I bought it for about RM570, so today it is clearly much cheaper.
“We usually check prices online first. When we see prices drop, we come straight away and take the opportunity to buy,” she said.
Another customer, Khairun Nisa Rozali, 30, described the situation as an ideal opportunity to purchase gold either for adornment or investment purposes.
“Gold rarely drops. So when prices are falling like now, it is better to buy immediately rather than wait for something uncertain,” she said.