Frequently Asked Questions (FAQ)

Why does the price of gold differs at different retail outlets in Malaysia?

The actual gold price globally is the same, which follows the current rate traded by the independent international trading market. This is the actual price seen when you Google them on your phone. However, as the retail stores in Malaysia are part of their local governed associations such as Malaysian Indian Goldsmiths and Jewellers Association (MIGJA) & Federation Of Goldsmiths And Jewellers Associations Of Malaysia (FGJAM), these creates a different standardization of retail store pricing that to be followed by the fellow retail owners. Hence, these prices are subject to change based on the associations regulation to protect the needs of the customers as well as the sustainability of the business owners.

In addition, there are some retail stores that works standalone type, independently with no association registration. This allows them to put up their own price, which they feel is reasonable to sell at. However, be mindful as these products and services might not be governed by any regulated associations.

What does "Karat" means?

A Karat, when used with gold, is a unit of purity. 24-karat (24K) gold is pure gold. Usually for gold jewellery, it will be mixed gold with a metal like copper or silver to make jewelry as pure gold is too soft. Each karat indicates 1/24th of the whole. So if a piece of jewelry is made of metal that is 22 parts gold and 2 parts copper, that is 22-karat (22K) gold.

Why is gold jewelleries sometimes called "916, 750, 22K, 18K, 14K, 9K" Gold?

While standard gold is 24 karat (24K), which is 24K/24K = 100% pure gold, it is too soft to be crafted into a jewellery item and required other materials to craft the gold into masterpiece jewellery. So, gold jewellery consisting of 22 karat (22K) gold that is 22K/24K = 91.6% gold and remaining 8.4% is filled with other materials such as copper and silver. That is how the 22K Gold Jewellery is called 916 Gold. There is also 18K Gold Jewellery which will be 18K/24K = 75% Gold and remaining 25% from other materials. As the Karat reduces, the price of Gold Jewellery reduces for the same amount of grams.

Why other metals are mixed with Gold to make the desired jewelleries?

Jewellery made from pure gold is too soft for everyday wear. Jewellery is alloyed with a mixture of metals like silver, copper, nickel, and zinc to give it strength and durability. Adding other metals to the mix also allows metallurgists to change the color of gold. Palladium or nickel can be added to create "white gold". Adding copper produces a "rose gold".

How is Gold weighed?

Gold is traditionally weighed in Troy Ounces (31.1g). Globally, Gold is measured in various ways which are suited to their normal local culture. In our shop, situated in the biggest Gold Souk of Malaysia, Jalan Masjid India, Gold is measured in grams and so our rates are shown for RM per grams.

What is considered a Gold Bar?

A gold bar, also known as gold bullion is a specific measured quantity of 999 pure gold that is refined by a bar manufacturer with meeting standard conditions. Most gold bars are traded at 1000grams (1kg) for investment purposes. However, there are many type of gold bar can be seen throughout gold shops to reduce the investment capital, scaled and sold at 1g, 2g, 5g, 10g, 50g, and up to 100g. These can be purchased from the Gold shop and later sold back for purely investment purposes. Smaller scaled 999 Gold are easily carried and returned after specific period of investment.

 

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