Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Wednesday (1/11/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 8,000 to IDR 1,123,000 per gram.
Meanwhile the buyback price (the price used when selling gold again) fell by IDR 7,000 to IDR 1,015,000 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 working days Monday-Friday. 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 (1/11/2023):
Antam’s gold price was affected by world gold trading on Tuesday (31/10/2023) closing at US$ 1,982.71 per troy ounce. The price shrank 0.66%.
Analyst from Exinity, Han Tan, explained that gold prices could still move higher as long as the conflict in the Middle East heats up. Gold is a safe asset that will be sought whenever there is geopolitical tension.
“Precious metals will receive strong support as long as the conflict in the Middle East heats up or spreads. This is because it could worsen the global economy,” said Han Tan, quoted from Reuters.
Quoting the reportReuters, new Israeli attacks were carried out including on refugee camps. It was mentioned how an Israeli missile hit a densely populated refugee camp in North Gaza, Jabalia.
However, Han Tan reminded that the price of gold will be greatly influenced by the Fed’s policy. The Fed will announce its monetary policy on Wednesday US time or early Thursday morning Indonesian time.
If the Fed still willhawkishthen gold can be depressed and vice versa. Hawkish policies will soar the US dollar and US Treasury yields.
The strengthening of the US dollar makes gold increasingly difficult to buy, making it unattractive.
CNBC INDONESIA RESEARCH
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Originally posted 2023-11-01 01:25:45.