Antam’s gold price is being discounted, can you buy it? My Money – 3 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Tuesday (5/12/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 23,000 per gram to IDR 1,122,000.

Meanwhile the buyback price (the price used when selling gold again) was at IDR 1,020,000 per gram, an increase of IDR 24,000.

World gold prices slumped after reaching various record increases. This decline actually affected Antam’s gold price, which also fell.

The decline in Antam’s gold price for investors could be good news because it becomes cheap to buy.

“Even though the market is increasingly confident that the Fed will pivot policy but it may be too early to see (gold’s high) prices continuing, the market is getting a little tired,” said Bart Melek, head of commodity strategy at TD Securities, to Reuters.

“We will need more catalysts, and those catalysts will come in the form of weak economic data.” he added.

The Fed looks set to end the year by no longer raising interest rates, but with the upcoming challenge of when and how to signal a switch to lowering interest rates.

The pressure on gold prices was driven by the increase in the US dollar index in trading yesterday Monday (4/12/2023) by 0.35% at the level of 103.56.

The rise in the US dollar index makes gold bullion more expensive for holders of other currencies. The US 10-year Treasury yield also increased to 4.28% in trading Monday (4/12/2023).

The following is Antam’s gold price as of Tuesday (5/12/2023):


[Gambas:Video CNBC]

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