Jakarta, CNBC Indonesia – The price for Precious Metals gold produced by PT Aneka Tambang Tbk on Monday (4/9/2023) at the LM Graha Dipta Pulo Gadung gold boutique remained at IDR 1,076,000 per gram.
While the price buyback (the price used when selling gold again) was stable at IDR 956,000 per gram.
Even though it has been stagnant in today’s trading, Antam’s gold price has strengthened by IDR 12,000 for five trading days.
“The resale price is the same for all fractions and the year of production. For buyback transactions, please contact the nearest LM Gold Boutique with service hours on Monday-Friday weekdays. Payments are made by transfer on H+2 to H+3 (weekdays) “If the packaging is damaged or lost, it will be deducted according to the terms and conditions that apply,” explained the statement on Antam’s website.
The following is Antam’s gold price as of Monday (4/9/2023):
This week, the gold market is not expected to be too volatile because there is no major economic data to be released by the US. The US will only release key data, namely August trade on Wednesday and jobless claims on Thursday.
This is different from last week where there were so many labor data including unemployment. US economic data so far still shows the opposite direction.
On the one hand, US unemployment is rising but on the other hand manufacturing activity is starting to improve.
As is known, on Friday, the US released a number of important data starting from unemployment in August, non-farm payroll August, as well as August manufacturing activity.
US unemployment surprisingly shot up to 3.8% in August. This figure is far above market expectations of 3.5% or in July which was recorded at 3.5%.
However, non-farm payrolls job creation rose to 187,000 in August. This figure is much higher than 157,000 in July or market expectations (170,000).
US manufacturing activity recorded on ISM Manufacturing also rose to 47.6 in August, from 47 in July.
The rise in unemployment and a downward revision in growth is good news for gold players as it shows that the labor market and the US economy have cooled down.
This opens up opportunities for inflation to fall so that the US central bank The Federal Reserve (The Fed) can soften.
CNBC INDONESIA RESEARCH
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