Price of 916 gold is at RM265 per gram today compared to RM300 per gram at the end of last year.
KUCHING (Mar 14): Goldsmith shops enjoyed brisk business today, with some even extending their business hours to cater to the long lines of customers waiting for their turn outside their shops.
Many of the shops were seen busy serving customers while observing the Covid-19 standard operating procedures by limiting the number of customers allowed inside to allow for sufficient social distancing between the customers.
One of the shop operators spared a few minutes to speak to The Borneo Post and revealed that the price of gold had slowly decreased since two months ago, from RM300 per gram for 916 or 22 carat gold at the end of last year, to RM265 per gram now while the price for 999 or 24 carat is RM280 now.
“Though the price has slowly dropped for the past two months, it is now stable at RM265. The last time the price was this low was last year,” said Mr Lee who helps run his family’s business at China Street.
“The price is RM265 per gram now but we are doing promotion now at RM245 per gram.”
He added that the shop would normally closed by noon on Sundays but they extended past their closing time as there were still many customers waiting to come in and have a look at the jewellery available. The shop is open from 9.30am to 4.30pm on Mondays to Saturdays.
Brisk business today led this shop to extend their business hours.
The family-owned business, Shin Kee Goldsmith, which has been opened for decades features designs and motifs found uniquely in Sarawak as they design the jewellery themselves. They also provide repair services like fixing broken clasps.
A check at another goldsmith shop also revealed that they were doing 916 gold promotion at RM245 per gram.
There are around 20 goldsmith shops around Carpenter Street Arch area. This area has the highest density of goldsmith shops in Kuching.
A shopper met in queue outside a goldsmith shop, Brandon David, 25, technician, decided to randomly drop by to check the price of gold as they were curious of the long lines outside the row of goldsmith shops.
He was accompanied by his wife, and they were just passing by the area.
“We were just curious and decided to join in. This is the first shop we are checking out so if the price is really good then we might buy something for own collection.”
He added that he plans to look at 916 gold as it is more hardy than 999 gold which is ‘softer’ and easier get out of shape.
For Faizah Ramli, 28, entrepreneur, said she heard that the price of gold had gone down and made plans to drop by today.
She said she wanted to get a ring to add on to her collection, but did not find any design she liked despite queueing for a long time at three different shops.
She added that it was also good investment for the future as gold price would appreciate.
The mother of two brought along her two small children and husband. The Borneo Post spoke to her after she had just exited the third goldsmith shop at Carpenter Street. She decided to call it a day as her children were already tired.
The Borneo Post had approached another 10 customers, but they were reluctant to be interviewed and prefer to keep their gold shopping trip private.
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