Cuan Party Disbanded, Antam Gold Price Dropped IDR 4,000 Today My Money – 2 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Monday (23/10/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 4,000 to IDR 1,117,000 per gram.

Meanwhile the buyback price (the price used when selling gold again) fell by IDR 4,000 to IDR 1,005,000 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 Monday (23/10/2023):

The price of gold in trading Monday (23/10/2023) at 05:42 WIB was at US$ 1,976.83. The price weakened 0.22%.

This weakening broke the extraordinary trend in gold prices which flew 3.25% on Tuesday-Friday last week or four trades.

Gold prices flew last week in line with the heating up of the Israel vs Hamas war and sluggish market expectations regarding the Fed’s interest rate policy.

Analyst from Saxo Bank, Ole Hansen, even estimates that gold could reach its record high of around US$ 2,075 per troy ounce if the conflict escalates. However, gold could fall and even reach US$ 1,946 if the conflict subsides and the Fed returns.hawkish.

Market players are also waiting for the FOMC meeting. The Fed will soon undergo a black period where they will not make statements about interest rates for a week before the FOMC on November 1-2.

Fed Chairman Jerome Powell, last week, continued to signal an increase in interest rates but there was an increasing risk of an economic slowdown due to the war.

The FedWatch Tool shows that 96.1% of market players expect interest rates to be held at the level of 5.25-5.50% next November. This figure is much higher than the previous week which was around 86%.

CNBC INDONESIA RESEARCH

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