While Antam’s Gold Prices Are Falling, Is It Time to Invest? My Money – 3 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Friday (1/12/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 5,000 per gram to IDR 1,115,000.

Meanwhile the buyback price (the price used when selling gold again) was at IDR 1,014,000 per gram, an increase of IDR 5,000.

Antam’s gold price slipped in line with world gold which weakened in yesterday’s trading.

In trading on Thursday (30/11/2023) the price of gold on the spot market closed down 0.43% at US$ 2,035.75 per troy ounce. Within a month, the price of gold on the spot market has recorded an increase of 2.68%.

The increase in the US dollar index yesterday contributed to the decline in gold. The dollar index returned to level 103 after falling to level 102. However, on a monthly basis, the movement of the US dollar index headed for its worst month in a year, while the 10-year Treasury yield reached its lowest point in two and a half months at 4.35% at the end of November. 2023.

Market players had priced in a rate cut of an 80% chance in May 2024, according to CME’s FedWatch tool.

Market players watched data showing US consumer spending increased modestly in October, while the annual rise in inflation was the smallest since the start of 2021. Jobless claims increased slightly.

It is known that personal expenditure data for US citizens (Personal Consumption Expenditures Price Index) has sloped to 3% (year on year/yoy) in October 2023, from 3.4% (yoy) in November 2023.

The following is Antam’s gold price as of Friday (1/12/2023):


[Gambas:Video CNBC]

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The Antam Gold Price Discount Hasn’t Ended Yet, It’s Time to Buy Up