KUALA LUMPUR: The inaugural Malaysia Gold Festival generated about RM20 million in turnover, missing its RM100 million target by 80%, as elevated gold prices continued to weigh on jewellery demand and reshape consumer purchasing patterns.
Malaysia Gold Association (MGA) president Datuk Seri Louis Ng said the event achieved about one-fifth of its targeted turnover.
“The final outcome didn’t hit that because this is the first year. We had about 20% of that, around RM20 million,” he told SunBiz.
The festival was held at the Kuala Lumpur Convention Centre from Sept 18 to 20. MGA had targeted RM100 million in turnover ahead of the event.
