One of them threatened the owner of the Yong Shuan gold shop with a gun and then fired shots, though it appears the gun was only loaded with blanks.
The men then grabbed around two kilograms of gold, worth about B3.6 million, before fleeing on a motorbike.
The bike was found not long after in the same area. Police said it appeared to have been hot-wired, and was probably stolen for the robbery.
Close to where the bike was found are accommodations for Burmese workers, and police are now checking to see whether they can find the men, one of whom was described as fat, and wearing jeans with a black-and-white T-shirt.
The other man was said to be wearing a shirt with blue red and white stripes, and camouflage trousers.
The owner said that he remembered seeing the men yesterday, possibly casing the shop in preparation for the robbery.