PETALING JAYA: A local gold shop owner has been setting aside up to RM150,000 in cash each day to accommodate the growing number of customers looking to sell their jewellery.
This preparation comes as the price of used gold continues to climb, reaching RM425 per gram.
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Sarah Yasmin Shuhaimi, a gold shop trader, explained that although the cash prepared doesn’t run out in a single day, the demand for selling gold has surged recently.
“Usually, customers who intend to sell gold in large quantities will contact the shop in advance. We also need to be prepared with sufficient cash.”
“There are about four to five customers a day selling their jewellery such as necklaces, bangles, and rings, either to boost their savings or because they are planning to build a new house,“ she told Kosmo.
Additionally, some customers are choosing to exchange their old jewellery for new designs.
“One female customer came to my shop today and sold jewellery worth RM21,300.
“The current price of new gold, which has reached RM449 per gramme, has not stopped people from continuing to invest by purchasing gold jewellery,“ she said.
Housewife Azmira Abdullah, 39, shared her own experience of selling gold. She brought a necklace worth RM10,000, purchased by her husband five years ago, to a gold shop last week.
She was stunned to find that the necklace’s current value had soared to RM45,000.
“I initially planned to sell the necklace, but decided to postpone it at the last minute.
“I’ve heard that gold prices are expected to rise again soon. If the price hits RM460 per gramme, I might go ahead and sell the necklace to boost my savings,“ she said.
