Antam Gold Price Today 20 May 2024 Stable at IDR 1,350,000 per Gram My Money – 21 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Friday (10/5/2024) at the LM Graha Dipta Pulo Gadung gold boutique was recorded at IDR 1,350,000.

Likewise with prices buyback (the price used when reselling gold) is at IDR 1,243,000 per gram.

Antam’s gold price was observed to be stable in today’s trading amid confidence that the Fed would cut interest rates twice this year.

Traders expect about two quarter-point interest rate cuts from the Federal Reserve this year, with November the most likely starting point. Lower interest rates tend to increase the appeal of non-yielding precious metals.

Hopes of breaking the trend of high interest rates in 2024 soared when US inflation for the April period cooled.

The Bureau of Labor Statistics reports that inflation is based on the Consumer Price Index (consumer price index/CPI) rose 3.4%(year-on-year/yoy), lower than the previous month’s period of 3.5%.

US core inflation also cooled in the April period, namely 3.6% yoy. Compared to March which grew 3.8% yoy.

Inflation is a benchmark for the Fed in monetary policy. The Fed set an inflation target of 2% to be more confident in reducing high interest rates.

So when inflation is on a cooling trend, market players’ sense of optimism increases.

CNBC Indonesia Research

[Gambas:Video CNBC]

Next Article

Antam Gold Price Drops IDR 7,000, Should You Sell or Buy?