KUALA LUMPUR, April 16 (Bernama) — While many young people today use their savings to purchase the latest gadgets or trending fashion items, a young woman from Kemaman, Terengganu, chose to invest her money in something more valuable — gold.
Speaking to Bernama, Nurulain Nazifa Azuwa @ Anith, 24, said she bought her first gold item — a two-gramme (gm) ring — about 10 years ago.
“I didn’t come from a wealthy family. As the eldest child, I had to think more maturely and be forward-thinking. So every time I received ‘duit raya’ (money given during the Hari Raya Aidilfitri celebration), I would use it to buy gold,” she said.
Nurulain Nazifa, who has a bachelor’s degree in administrative science from Universiti Teknologi MARA, said her parents’ advice to spend money based on needs, not wants, has always stayed with her. She believes her decision to invest in gold was a wise move, especially considering its value has steadily increased over time.
Still passionate about buying gold with every paycheck, Nurulain Nazifa said her ornaments once even became her financial lifeline when she needed money during her university days.
“While studying, I had to pawn some of my gold jewellery. So even though the price of gold has now reached over RM400 per gm, I still make it a point to save and buy at least one ring each month, based on a budget of around RM1,000,” she said.
Sharing a similar interest is Nik Noor Azlee Ramli, 42, who has been collecting gold ornaments since she started working nearly 20 years ago. She said her interest in gold was something she inherited since childhood and to this day, she is still expanding her collection.
Reflecting on the changing gold design trends, the Affin Bank branch manager said she does not buy ornaments based on their designs.
“I don’t follow trends. Even if it’s a classic design, if it looks beautiful to me, I’ll buy it. It doesn’t always have to be the latest style. I’ve even ordered a custom piece with my own name (engraved in it), which was quite pricey but worth it. It is now estimated to be worth around RM16,000,” she said.
“I’m the type who buys gold (items) and never sells them. So, I’ve built up quite a collection, even if it’s just small rings. I have three daughters and I’ve already bought gold ornaments for them,” she said, adding she also invests in gold bars.
Meanwhile, Habib Jewels Sdn Bhd (Habib Group) executive chairman Datuk Seri Meer Habib said the purchase of gold jewellery is no longer limited to the sole purpose of using them as accessories, adding that Malaysians, including the younger generation, are increasingly viewing gold as an investment asset.
He said despite gold prices hitting record highs in recent years, demand among local consumers remains strong and even tends to rise during festive seasons.
“If we look at the long term, just last year gold prices rose by 27 percent. So, if someone bought gold last year and sold it today, they would already be making a profit and that’s within just one year.
“Even this year alone, prices have gone up, maybe, by around 15 percent in just three months. But people shouldn’t assume gold prices will always go up. Sometimes they drop too. If the price spikes too quickly, it might come down again to consolidate before going up once more,” he explained.
Meer added that rising gold prices have not deterred people from continuing to buy, reflecting public confidence in gold as a stable and high-value asset.
“Now (when buying gold ornaments) people look for a balance between modern design and investment value. We’ve introduced collections with attractive, lightweight designs using the latest technologies like electroforming. These pieces look large and beautiful but they’re light, making them more affordable,” he said.
He also said Habib has introduced various innovative products such as gold wafers, gold bars and exclusive collections that incorporate local cultural elements, including the traditional wau (kite), woven patterns and Jawi script, all aimed at attracting a wider audience to invest in gold.
— BERNAMA