Penang leads Malaysia’s gold manufacturing, driving 80pc of national output
Penang, Malaysia, houses approximately 80% of the nation's gold manufacturing factories, according to the Federation of Goldsmiths and Jewellers Association of Malaysia (FGJAM). The region aims to become a regional gold trade hub, driven by strong export figures. Q1 2025 saw gold-related product exports reach RM2.34 billion, a 9.76% year-on-year increase. Penang's Chief Minister highlighted the surging global gold prices, exceeding US$3,000 per ounce, and emphasized the importance of supporting local talent and SMEs in the gold and jewellery sector.