One of the most common questions among Malaysians who want to start saving in gold is: Is Public Gold approved by Bank Negara? This question emerged because in 2012, Public Gold appeared on the Financial Consumer Alert List (FCA) released by Bank Negara Malaysia (BNM).
At that time, many gold-related scams were running in Malaysia. However, after a detailed investigation, Bank Negara confirmed that Public Gold was not a scam but a legitimate gold trading company.
By October 2012, BNM officially removed Public Gold from the list. Since then, Public Gold has grown into the largest physical gold provider in Malaysia.
This article explores the full story: why Public Gold was once listed, how it cleared its name, and what achievements it has recorded up to 2025.
Why Public Gold Was Placed on Bank Negara’s Alert List?
Between 2010 and 2012, Malaysia faced a wave of fake gold investment schemes. These companies lured investors with promises of fixed monthly returns supposedly backed by gold. When they collapsed, many Malaysians lost their hard-earned money.
To protect consumers, Bank Negara placed several gold-related businesses on the Financial Consumer Alert List. Public Gold was included in this precautionary step because it was active in the gold sector during that period.
Unfortunately, the listing created public confusion since people could not easily distinguish between fraudulent investment schemes and legitimate gold trading companies.
Why Public Gold Was Removed from the Alert List?

On 31 October 2012, Bank Negara Malaysia officially removed Public Gold from the Alert List. According to a report in The Edge Malaysia, BNM’s investigation confirmed that Public Gold’s operations were fundamentally different from scam operators.
Public Gold focused solely on selling physical gold products such as gold bars, dinar, and jewelry. Customers could either keep the gold themselves or store it under the Gold Accumulation Program (GAP). Unlike scams, Public Gold never promised fixed returns or monthly dividends.
Key Differences: Physical Gold vs Investment Schemes
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Public Gold: Pure buy-and-sell of physical gold based on daily market prices. Customers own the gold and can sell it back anytime at the buyback price.
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Scam Companies: Claimed to invest in gold but only collected money while promising unrealistic fixed returns.
Bank Negara clarified that companies selling physical assets like gold do not require the same license as financial institutions unless they manage investment funds. This confirmation cleared Public Gold of suspicion and restored its credibility.
Achievements of Public Gold up to 2025

Since being cleared by Bank Negara in 2012, Public Gold has achieved impressive growth both locally and internationally.
Highlights include:
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Founded in 2008 in Malaysia.
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More than 1.55 million customers nationwide.
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RM17.5 billion cumulative sales.
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Over RM300 million incentives paid to dealers under the PGBO program.
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74 tons of gold sold and 40 tons repurchased from customers.
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Distribution of more than 2.35 million dinar coins.
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50 Gold ATMs across Malaysia generating over RM12 million in sales.
These achievements prove that Public Gold has become Malaysia’s largest and most trusted physical gold savings platform.
Why Public Gold Remains Trusted in 2025?
1. Physical Gold Ownership
Public Gold customers receive real gold which are bars, dinar, or jewelry. Even when using GAP, the gold is fully backed by physical reserves.
2. Transparent Pricing
Gold prices follow the global market and are published daily on the Public Gold website and app.
3. Guaranteed Buyback
Customers can sell their gold back to Public Gold at the current buyback price, ensuring high liquidity.
4. Positive Track Record with Bank Negara
After the 2012 case, Public Gold maintained open communication with BNM and continues to operate transparently.
Customer Experiences with Public Gold
Simple Gold Savings for Beginners
“I started with only RM100 in the GAP account. It feels just like saving in ASB, but instead of money, I see my balance in grams of gold.”
Comparing Gold to Traditional Savings
“When I compared Tabung Haji’s dividend of 3.25% to gold’s 36% growth in a year, I realized keeping part of my savings in gold is more rewarding.”
Delaying Gold Savings Costs More
“A friend from Singapore waited 1.5 years before starting. In 2023, gold was RM280/g. By 2025, it reached RM533/g. The lesson? Don’t wait too long to start.”
Educational Insights for Malaysians
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Gold as Financial Insurance
Gold consistently acts as a hedge against inflation. Unlike paper money, its value typically rises during economic uncertainty. For Malaysians, gold savings protect long-term purchasing power. -
Gold vs Fixed Deposits
Fixed deposits provide predictable but modest returns. In contrast, gold has no guaranteed dividend but has historically delivered higher growth, especially during economic downturns. -
Accessibility for All
With the GAP account, even students and young professionals can begin saving from just RM100. This inclusivity makes gold savings accessible across all income levels.
If you’re wondering how to start with a small budget, you can read my article on low capital gold savings.
Conclusion: Is Public Gold Approved by Bank Negara?
Yes, Public Gold is recognized by Bank Negara Malaysia as a legitimate gold trading company. While it was once listed for investigation in 2012, BNM quickly cleared it because Public Gold sells physical gold instead of operating like an investment scheme.
Thirteen years later, the company has built a solid reputation with millions of customers, billions in sales, and recognition as Malaysia’s most trusted gold savings platform.
For Malaysians still wondering, Is Public Gold approved by Bank Negara? The answer is clear, Yes, and it continues to thrive as a reliable choice for gold savings in 2025.