Antam Gold Joins the Party, Prices Rise as World Gold Flies My Money – 3 hours ago


Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Wednesday (22/11/2023) at the LM Graha Dipta Pulo Gadung gold boutique rose by IDR 2,000 to IDR 1,097,000 per gram.

Meanwhile the buyback price (the price used when selling gold again) also fell slightly by IDR 2,000 to IDR 995,000 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 (22/11/2023):

Antam’s gold price strengthened in line with strengthening world gold prices. In trading on Tuesday (21/11/2023) the price of gold on the spot market closed up 1.07% at US$ 1,998.37 per troy ounce.

Gold prices rose beyond the highest limit of US$2,000 per troy ounce on Tuesday’s trading after the release of the minutes of the Federal Open Market Committee (FOMC) meeting.

The minutes support market expectations that the Federal Reserve (The Fed) has completed an interest rate increase, thereby putting pressure on the US dollar, while investors await the minutes of the US central bank’s latest meeting for further policy cues.

FOMC minutes show that Fed officials will be more careful in determining interest rate policy. They also signaled they would only raise interest rates if efforts to control inflation falter.

The minutes stated that financial conditions are now getting tighter, triggered by higher yields, rising dollars and falling share prices.

The minutes added that committee members would still consider implementing monetary policy if developing data showed that the Fed’s target for suppressing inflation was inadequate.
This sentence is more dovish than the FOMC at the September meeting where it was stated that the majority of participants still saw the need to raise interest rates.

However, the FOMC minutes did not say anything about the Fed’s desire to cut interest rates.

CNBC INDONESIA RESEARCH

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