Recently, I noticed that the gold market has indeed been fierce this wave of market action, with gold prices rising 64.72% throughout 2025, marking the strongest annual performance since 1979. International spot gold prices briefly surged to $5,600 per ounce at the beginning of the year, and although there has been some pullback, they are still oscillating at high levels.

In the past two days, the 916 gold price in Malaysia has also surged significantly, with 999 pure gold now quoting close to a historic high of 750-800 ringgit per gram. This week, gold prices mainly fluctuated within the range of $5,093 to $5,281 per ounce, with quite a large volatility. Gold shops are responding very quickly, some even switching to half-day prices or real-time listings to adjust.

If you want to trade international spot gold XAUUSD in Malaysia, the trading hours are nearly 24 hours from Monday to Friday. During winter time, it opens at 7 a.m. on Monday and closes at 6 a.m. on Saturday. There is a one-hour settlement break in between. The local gold futures FGLD traded on the Malaysian Exchange operates from 9 a.m. to 12:30 p.m., and from 2:30 p.m. to 5:30 p.m., with the most active period being from 9 p.m. to 2:30 a.m. the next day, which connects to the New York market.

The fluctuations in the 916 gold price are mainly influenced by international gold prices and risk aversion sentiment. Recently, tensions between the US and Iran have been somewhat tense, so safe-haven funds continue to flow in. However, it’s also important to note that if diplomatic breakthroughs occur later, profit-taking at high levels could be quite fierce. Additionally, keep an eye on the US non-farm payroll report, as it will impact the Fed’s future rate cut expectations.