Rise of the ringgit spurs gold rush

Solid investment: Lee showing calculations made on a piece of gold jewellery at his shop in Komtar. — LIM BENG TATT/The Star

GEORGE TOWN: With the price of gold slipping recently as the ringgit strengthens, there is a surge in interest at the retail level with people selling their gold jewellery to seize profit.

Jewellery shop owner Riyaz Mohd Shaul Hameed, 41, said the price of gold increased from about RM300 per gramme early this year up to RM380 at the end of July but has since dropped to about RM340.