Jakarta –
The geopolitical conditions between Russia and Ukraine is still heating up. However, this condition is said to provide its own ‘blessing’ for commodity-producing countries such as China, Indonesia, Australia, and Malaysia.
Director of TRFX Garuda Futures Ibrahim Ascustombi said that the increase in commodity prices was used as bait for speculators to impose economic sanctions on countries against Russia and Belarus.
The increase in commodity prices was not caused by Russia’s attack on Ukraine, but because of excessive sanctions imposed by the United States (US), European Union, and Britain against Russia and Belarus.
“After the economic sanctions were implemented, speculators in various countries carried out unlimited buying actions, causing an unnatural spike in commodity prices and this was actually a serious attack for countries that imposed economic sanctions on Russia and Belarus,” he said in his statement, Monday (7/3/2022).
Ibrahim said that if there was no third party intervention, then commodity prices would not be able to experience a significant spike.
Especially allies Russia, namely China which is likely to follow in the footsteps of Russia in its invasion of Taiwan. In addition, North Korea has also been preparing to invade South Korea. According to him, this is all the impact of the US, NATO, and Britain who are too rash in providing economic sanctions.
In addition, with price spikes that continue to rise, the US Central Bank (The Fed) at its meeting on March 15, 2022 may hold interest rates until the war has completely stopped.
“The impact of these sanctions has made the prices of commodities such as crude oil, gold, natural gas, coal, nickel and others experience an unreasonable increase,” he explained.
Gold prices in a matter of March 2022 could touch US$ 2,150 per troy ounce/precious metal Rp 1,150,000 per gram, WTI crude oil could touch US$ 200 per barrel, coal US$ 600 per ton, natural gas US$ 5,500. Then CPO oil RM 7,500 per tonne, the dollar index could penetrate US $ 105, Bitcoin penetrated US $ 45,000 per chip.
(kil/arab)
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