Not Compact! Antam Gold Dims When World Gold Rises 1% My Money – 4 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Friday (17/11/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 1,000 to IDR 1,095,000 per gram.

Meanwhile the buyback price (the price used when selling gold again) also increased by IDR 6,000 to IDR 992,000 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 Friday (17/11/2023):

Antam’s gold price fell slightly, not in line with world gold prices which flew in yesterday’s trading. In trading on Thursday (16/11/2023) the price of gold on the spot market closed up 1.11% at US$ 1,980.85 per troy ounce. This spike was the highest spike this week.

Gold prices rose more than 1% in trading Thursday as the dollar and Treasury yields slumped after weekly U.S. jobless claims rose more than expected, reinforcing expectations that the Federal Reserve will halt its rate hike cycle.

It is known that yesterday the US released unemployment claims data. Applications for unemployment benefits rose by 13,000 to 231,000 for the week ended November 11, the Labor Department reported on Wednesday Indonesian time. This figure is the highest in three months.

The number of Americans filing new claims for unemployment benefits increased more than expected last week, which could help the Fed’s fight against inflation.

The data confirmed that the US economy is slowing slightly, giving gold investors confidence that the Fed will not raise interest rates again, according to Jim Wyckoff, senior analyst at Kitco Metals.

Other data also supports gold movements. US producer prices suffered their biggest drop in 3.5 years in October. Previously, US inflation also sloped to 3.2% (year on year/yoy) in October 2023, from 3.7% (yoy) in September 2023.

CNBC INDONESIA RESEARCH

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