Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Tuesday (12/9/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 3,000 to IDR 1,068,000 per gram.
Meanwhile price buyback (the price used when reselling gold) weakened by IDR 3,000, remaining at IDR 949,000 per gram.
“The resale price is the same for all denominations and years of production. For buyback transactions, please contact the nearest LM Gold Boutique with service hours on Monday-Friday working days. Payment is made by transfer on H+2 to H+3 (working days) “If the packaging is damaged or lost, a deduction will be charged in accordance with the applicable terms and conditions,” explained the statement on the Antam website.
The following is Antam’s gold price as of Wednesday (13/9/2023):
Antam’s gold price weakened in line with the decline in world gold. Gold collapsed because market players were worried about US inflation data which would be released today or Wednesday evening Indonesian time.
Launching dataTrading Economicsheadline inflation is expected to jump to 3.6% on an annual basis (year-on-year/yoy) in August 2023, from the previous month of 3.2% yoy. If general inflation rises according to estimates, this will be the second increase after reaching a low of 3% yoy last June.
Meanwhile, core inflation is expected to decline to 4.3% yoy compared to the previous month’s 4.7% yoy. Even though it is sloping, overall general and core inflation is still far from the target of the US central bank, The Federal Reserve (The Fed), at around 2%.
If inflation is above market expectations, market players’ hopes of seeing interest rate easing are increasingly distant. Gold prices are also getting weaker.
CNBC INDONESIA RESEARCH
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