Antam’s Gold Price Sets a Record Again! Translucent IDR 1,136 Million My Money – 1 day ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Saturday (28/10/2023) at the LM Graha Dipta Pulo Gadung gold boutique recorded a record high at IDR 1,136,000 per gram. This figure is an increase of IDR 13,000 from the previous trading price of IDR 1,123,000 per gram.

Meanwhile the buyback price (the price used when selling gold again) was IDR 1,027,000 per gram, an increase of IDR 13,000 compared to the previous day.

The following is Antam’s gold price as of Saturday (28/10/2023):

Throughout October this year, Antam’s gold price has broken records several times. This includes consecutive records on Wednesday and Thursday this week. The previous highest record was on Thursday, namely IDR 1,125,000 per gram.

Before October 2023, Antam’s gold price set a historical all-time high on March 23 2023 at Rp. 1,096,000 per stick.
The second best record was on March 25 which was recorded at IDR 1,089,000/gram then on March 19 2023 at IDR 1,088,000. Previously, the previous record was achieved on August 7 2020, when it reached IDR 1,065,000 per gram.

The peak in Antam’s gold price was driven by the increase in gold prices on the spot market. The price of gold on the spot market in the last trade this week, Friday (27/10/2023), closed at US$ 2,005.78 per troy ounce. The price soared 1.05%.

In a month, the price of gold has flown 8.52% throughout October this year. This month’s increase was the highest since July 31 2020 or the last three years.

Gold prices are flying in line with the re-heating of the Israel-Hamas war. In the latest development, Israel continues to bombard Gaza on the 20th day of the war. More than 7,000 people have died in Gaza, including children and women. It is feared that the scale of the war will widen after Israeli missiles reportedly hit two cities in Egypt.

Conditions are getting hotter because the United States (US) and Iran are threatening each other in the midst of the heated war. White House spokesman John Kirby said US President Joe Biden reminded Iran’s supreme leader Ayatollah Khamenei.

The Israeli military said that Hamas received weapons support from other countries. Most recently, a Tel Aviv official source said that some of the weapons used by Hamas in the October 7 attack were produced in Iran or North Korea (North Korea).

The US also said Iran deliberately targeted US soldiers who were helping Israel. Previously, Iran’s Foreign Minister, Hossein Amir-Abdollahian, warned that the US would not be able to escape Iran’s targets if the massacre in Gaza did not end.

Gold is a safe asset that is sought after amidst political tensions. The demand for safe assets is the only reason why gold prices are soaring.

CNBC Indonesia Research

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