Antam Gold Price Flying IDR 1,333,000/gram, Weekend Profit Investor My Money – 23 hours ago


Jakarta, CNBC Indonesia The price of precious metal gold produced by PT Aneka Tambang Tbk on Saturday (15/6/2024) at the LM Graha Dipta Pulo Gadung gold boutique was recorded to have increased by IDR 14,000 to IDR 1,333,000 per gram.

Likewise, the buyback price (the price used when selling gold again) fell by IDR 8,000 to IDR 1,347,000 per gram.

Following are the details of Antam’s gold price today, Saturday 15 June 2024:


Antam’s gold strengthening was in line with world gold prices which soared in trading yesterday, Friday (14/6/2024)

Based on data Refinitivthe price of gold on the spot market in trading Friday (14/6/2024) rose by 1.27% to US$ 2,332.52 per troy ounce.

Market participants raised their outlook to expect around 52 basis points (bps) of interest rate cuts (or two quarter-point cuts) by the end of December after weaker inflation data this week. This was up from 37 bps the previous Friday, when a stronger-than-expected jobs report dampened initial hopes of a rate cut, according to LSEG’s interest rate probability tool, IRPR.

Lower interest rates tend to increase the attractiveness of non-yielding gold, making it a more attractive investment compared to other assets such as Treasury bonds.

European financial markets saw stock indexes fall as French assets were hit by political turmoil in the country. Concerns were also playing out on Wall Street, with investors taking a breather after strong gains in the S&P 500 and Nasdaq indexes.

“The combination of falling stocks and some interest rate cuts is reigniting interest in gold, even though the Federal Reserve changed its interest rate projections at the FOMC meeting,” said Bart Melek, head of commodities strategy at TD Securities.

CNBC INDONESIA RESEARCH

[email protected]

[Gambas:Video CNBC]

Next Article

Pawnshop Gold Prices Are Discounted, It’s Time to Buy Up!

(mza/mza)