Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Friday (16/2/2024) at the LM Graha Dipta Pulo Gadung gold boutique rose by IDR 3,000 to IDR 1,118,000.
Likewise with prices buyback (the price used when reselling gold) was at IDR 1,010,000 per gram, an increase of IDR 3,000.
In trading Thursday (15/2/2024) The price of gold on the spot market closed up 0.59% at US$ 2004.09 per troy ounce. The price of gold is back at the psychological level of US$2,000 per troy ounce after being thrown from that level in the previous two days.
Gold prices strengthened in trading Thursday after weaker US economic data pushed the US dollar and US Treasury yields lower, while market focus will shift to comments from Federal Reserve (The Fed) officials regarding hints regarding the deadline for interest rate cuts.
Meanwhile, the dollar index extended its weakness by falling 0.41% to 104.29 on Thursday (15/2/2024). And the 10-year US Treasury yield slipped to 4.23% after the data was released, making non-yielding bullion more attractive to overseas buyers.
Market participants estimate that the Fed will probably wait until June before lowering interest rates.
CNBC Indonesia Research
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