Malaysia's gold price turned lower on Tuesday morning. Maybank cut its one-ounce Kijang Emas selling quote by RM198 to RM17,913 on 20 October 2026, while the bank's buyback price fell RM192 to RM17,208.
The move followed a softer local spot reference. HargaEmas.my showed 999 gold at RM543.441 per gram at 9:43 AM Malaysia time, down RM2.188, or 0.40%, from its previous reading.
Malaysia Gold Price on 20 October 2026
Maybank's official counter-rate page displayed the following indicative prices at 9:15 AM:
- Kijang Emas, one ounce: selling RM17,913; buying RM17,208.
- Kijang Emas, half ounce: selling RM9,126; buying RM8,604.
- Kijang Emas, quarter ounce: selling RM4,647; buying RM4,302.
- Gold Investment Account: selling RM554.14/g; buying RM532.75/g.
The local reference board separately listed 916 gold at RM497.792/g and MYR/USD at 4.0895. Spot references, bank accounts and physical bullion are different products, so their prices should not be compared as if they were interchangeable.
Kijang Emas Falls RM198 From Monday
The one-ounce selling price is RM198 below Monday's RM18,111 quote. The buyback rate declined from RM17,400 to RM17,208. BullBuzz's 19 October gold update recorded the previous levels before Tuesday's reversal.
The smaller denominations moved in the same direction. The half-ounce selling quote fell RM101 and the quarter-ounce quote dropped RM52. Those changes broadly follow the one-ounce adjustment after allowing for fractional-product pricing.
The one-ounce buy-sell spread narrowed slightly to RM705 from RM711. The gap equals about 3.94% of Tuesday's selling quote. It represents the difference between the displayed purchase and resale prices before any other terms are considered.
Maybank Gold Account Rates Also Decline
Maybank's conventional Gold Investment Account selling rate fell RM6.13 from Monday to RM554.14/g. Its buying rate dropped RM5.97 to RM532.75/g, leaving a displayed spread of RM21.39 per gram.
The Islamic MIGA-i board updated at 9:22:57 AM. It quoted RM556.65/g selling and RM533.54/g buying for holdings of 100 grams and above. The below-100g tier stood at RM564.15/g selling and RM533.04/g buying.
Maybank states that its displayed rates are indicative and may change without notice. Update times, product rules and spreads can cause account and coin prices to move by different amounts during the same session.
Global Gold Slips Toward US$4,130
International bullion also weakened in early Asian trade. ET Now reported spot gold near US$4,130.80 an ounce at 6:00 AM, down 0.3%. It cited a firmer US dollar and elevated Treasury yields as pressure on the non-yielding metal.
A day earlier, a Reuters report carried by MarketScreener placed spot gold at US$4,182.30. The swing illustrates how quickly the market is reacting to changes in inflation expectations, energy prices and the outlook for US interest rates.
Malaysia's ringgit gold price reflects both international bullion and the exchange rate. Converting dollars per troy ounce into ringgit per gram requires the USD/MYR rate, while bank and dealer margins create a further difference from spot.
Bank Negara Malaysia's daily Kijang Emas table confirms Tuesday's RM17,913 selling and RM17,208 buying quotes. Its product page describes the one-ounce coin as 31.105 grams of 999.9-fineness gold distributed by Maybank.
What Malaysian Gold Buyers Should Watch Next
The immediate test is whether the local 999 reference holds near RM543/g and whether Maybank revises its morning quotes. Buyers should record both sides of the price and its timestamp, then confirm the live quote before transacting.
Recent sessions remain volatile. BullBuzz tracked a RM139 Kijang Emas rebound on 16 October after the RM167 decline on 15 October. Daily direction alone does not show the full transaction cost; the spread and product terms matter as well.
Prices are time-stamped snapshots for comparison, not investment advice. Confirm the current provider quote before transacting.