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2026-05-26 15:41:34
[Malaysia Imposes 10% Tariff on Gold Bar Imports, Disrupting Gold Trade] (1) An informed trader revealed that since early May, Malaysia has imposed a 10% tariff on some gold bar imports. As local gold prices have not risen accordingly, imports have become unprofitable, leading to some goods being seized by customs or rerouted to other regions. (2) Muamalat Bank, a Malaysian bank offering gold investment products, stated that as long as the 10% tax continues, the associated costs will be passed on to customers. A spokesperson for the Royal Malaysian Customs Department stated that the Ministry of Finance will communicate with the industry regarding the import of "cast gold products." (3) According to data from the Department of Statistics Malaysia, as of April this year, Malaysia imported approximately RM9.7 billion (US$2.5 billion) in non-monetary gold.
