Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Thursday (15/2/2024) at the LM Graha Dipta Pulo Gadung gold boutique rose by IDR 1,000 to IDR 1,115,000.

Likewise with prices buyback (the price used when reselling gold) was at IDR 1,007,000 per gram, an increase of IDR 1,000.

Antam’s gold price rose slightly after falling IDR 15,000 in yesterday’s trading.

In trading Wednesday (14/2/2024) the price of gold on the spot market closed down 0.08% at US$ 1992.39 per troy ounce. The price edged up 0.01%. Despite strengthening, the price of gold remains below the level of US$2,000 per troy ounce.

Gold prices remained below the key level of US$2,000 per troy ounce in Wednesday’s trading after higher-than-expected United States (US) inflation data prompted investors to reduce bets on an early interest rate cut by the US central bank The Federal Reserve (The Fed).

“Gold is trading lower due to hot inflation data. It will be difficult for gold to strengthen because part of its rise above US$2,000 is due to expectations that the Fed’s interest rate cut will be carried out sooner,” said Bob Haberkorn, senior market strategist at RJO Futures , toReuters.

The catalyst for gold trending even lower is confirmation that the Fed may not be able to lower interest rates any time soon, he added.

CNBC Indonesia Research

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