Malaysia Suddenly Imposes 10% Import Duty on Gold

Jakarta, CNBC Indonesia - Malaysia has officially imposed a 10% import duty on specific gold bars. According to traders and dealers, the regulation took effect from early May 2026.

The rule has caused disruptions in gold trade, with some shipments held at customs or rerouted due to additional costs, which, without a corresponding rise in local gold prices, would make imports unprofitable.

Citing The Star and Bloomberg, Malaysia’s Bank Muamalat, which offers gold investment products, announced that the 10% import tax on gold bars would be passed on to customers.

The Royal Malaysian Customs Department stated that the Ministry of Finance would engage with the industry regarding the import of minted gold products.

According to VNExpress and CryptoBriefing, investors purchasing a one-kilogram gold bar through Malaysian banks after 8 June will face costs of approximately MYR45,000 (US$11,300), up from previous levels.

Gold prices hit record highs earlier this year, spurring investor interest in the commodity across Asia. In Malaysia, several local banks have introduced gold investment products over the past year, while Loomis AB, a bullion logistics company, has opened vaults near the capital to meet rising demand.

Malaysia imported non-monetary gold worth approximately US$2.5 billion up to April this year, according to the country’s Statistics Department.

Malaysia’s move follows India’s sudden import policy changes, the world’s second-largest gold and silver market, which have triggered a chain reaction across metal and currency markets.