Jakarta, CNBC Indonesia – The price of Precious Metals gold produced by PT Aneka Tambang Tbk on Wednesday (6/9/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 6,000 to IDR 1,079,000 per gram.
While the price buyback (the price used when selling gold again) also weakened to IDR 949,000 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 Wednesday (6/9/2023):
The price of gold faded in line with the world’s gold that fell. The price of gold on the spot market on Tuesday trading (5/9/2023) closed at US$ 1926.19 WIB per troy ounce or down 0.64%.
The reason is the soaring oil prices which are feared will revive inflation so that hopes of seeing the US central bank The Federal Reserve (The Fed) soften further away.
Fedwatch’s CME tool shows 93% of investors believe the Fed will hold its benchmark interest rate at 5.25%-5.5% at its September meeting. As many as 7% predicted an increase in interest rates of 25 bps.
Gold also weakened as US Treasury yields continued to soar. Yields on the 10-year US Treasury yesterday penetrated 4.27%, higher than the previous day which was recorded at 4.17%.
Yields are up as the market sees the Fed still goinghawkishgoing forward. Gold does not offer yields so rising yields hurt gold.
CNBC INDONESIA RESEARCH
Soaring High, Antam’s Gold Price Is Increasingly Difficult to Buy