Gold Price Malaysia (Ringgits)
Conversion : 1 troy ounce = 31.1034768 grams
Malaysian Ringgits per Gram Malaysian Ringgits per Kilo
Historically gold was used to back currency; in an economic system known as the gold standard, a certain weight of gold was given the name of a unit of currency. Every day we can see the changes in price of Gold in the market. The above chart describe the price of Gold per Gram and per Kilo in Malaysian Ringgits.
The trend of the Gold Price all over the world basically in upward trend since the collapse of the Brenton Woods Agreement in 1971. Before the agreements it shows that the data of price of gold stable since before. It means that it is assured that gold have more stable and value rather than current monetary system which is 'fiat money'- based on the legal tender by the authority such in Malaysia manage by Bank Negara Malaysia (BNM). The system we can numerously say it is create out of nothing and involve seigniorage- the cost of production and profit to authority.
Come back to the price itself the gold shows it have more fluctuation-sometimes it upward trend and downward trend but stable in the matter of the value. Furthermore, it is acceptable by all people all over the world. Every day within 24hours the trend of gold price can be seen online such above. At 09.36 NY times it shows that the Gold Price increase on RM2.37 rather than yesterday.
If we compare to the stock exchange such in Kuala Lumpur Stock Exchange (KLSE), the Gold price cannot be predicted in since it the the most valuable in commodity market. we can say that any country that have largest gold holding have the most advantages. The bourses in the world currently on downward trend basically because the world too much dependency on the US which is on the problem of sub-prime crisis and dollar crash which shows the dollar in problem. But, when we measured about the dollar it give problem when one country have much dependent on US market. We can see here for the exchange of Malaysia currency opposed to US Dollar. To boost US market the dollar need to be strengthened then shows that Malaysian Ringgit weakened further- currently 1USD= RM3.6225.
Sources Chart: GoldPrice.org
ExplanationHistorically gold was used to back currency; in an economic system known as the gold standard, a certain weight of gold was given the name of a unit of currency. Every day we can see the changes in price of Gold in the market. The above chart describe the price of Gold per Gram and per Kilo in Malaysian Ringgits.
The trend of the Gold Price all over the world basically in upward trend since the collapse of the Brenton Woods Agreement in 1971. Before the agreements it shows that the data of price of gold stable since before. It means that it is assured that gold have more stable and value rather than current monetary system which is 'fiat money'- based on the legal tender by the authority such in Malaysia manage by Bank Negara Malaysia (BNM). The system we can numerously say it is create out of nothing and involve seigniorage- the cost of production and profit to authority.
Come back to the price itself the gold shows it have more fluctuation-sometimes it upward trend and downward trend but stable in the matter of the value. Furthermore, it is acceptable by all people all over the world. Every day within 24hours the trend of gold price can be seen online such above. At 09.36 NY times it shows that the Gold Price increase on RM2.37 rather than yesterday.
If we compare to the stock exchange such in Kuala Lumpur Stock Exchange (KLSE), the Gold price cannot be predicted in since it the the most valuable in commodity market. we can say that any country that have largest gold holding have the most advantages. The bourses in the world currently on downward trend basically because the world too much dependency on the US which is on the problem of sub-prime crisis and dollar crash which shows the dollar in problem. But, when we measured about the dollar it give problem when one country have much dependent on US market. We can see here for the exchange of Malaysia currency opposed to US Dollar. To boost US market the dollar need to be strengthened then shows that Malaysian Ringgit weakened further- currently 1USD= RM3.6225.
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