KONTAN.CO.ID – JAKARTA. Saturday (26/9), the price of certified gold bullion at Logam Mulia owned by PT Aneka Tambang (ANTM) fell by IDR 3,000 per gram, from the previous IDR 1,009,000 per gram to IDR 1,006,000 per gram.
On the other hand, price buyback by Logam Mulia, it decreased by IDR 3,000 per gram, from the previous IDR 897,000 per gram to IDR 894,000 per gram. Thus, the difference between the gold price and today’s buyback price is IDR 112,000 per gram.
| Gold Buy Date | Gold Price per gram | Buyback Price per gram (26/9) | Potential Profit / Loss |
|---|---|---|---|
| 19 September 2020 | IDR 1,023,000 | IDR 894,000 | -12.61% (loss) |
| 26 August 2020 | IDR 1,011,000 | IDR 894,000 | -11.57% (loss) |
| 26 June 2020 | IDR 910,000 | IDR 894,000 | -1.76% (loss) |
| March 26, 2020 | IDR 924,000 | IDR 894,000 | -3.25% (loss) |
| December 26, 2019 | IDR 758,000 | IDR 894,000 | 17.94% (profit) |
| 26 September 2019 | IDR 762,000 | IDR 894,000 | 17.32% (profit) |
| 26 June 2019 | IDR 709,000 | IDR 894,000 | 26.09% (profit) |
| March 26, 2019 | IDR 672,000 | IDR 894,000 | 33.04% (profit) |
| December 26, 2018 | IDR 622,000 | IDR 894,000 | 43.73% (profit) |
Source: Precious Metals, processed
So far, Antam has set two types of gold bullion prices: the gold price and the buyback price.
The gold price listed above is the price in effect when we buy gold from Precious Metal outlets. As for the price buyback is the price that occurs when we sell gold to a precious Metal booth.
So, yesterday morning buying gold from Antam you have to pay IDR 1,006,000 per gram. If for some reason you suddenly need money so urgently that you are forced to sell the gold back in the afternoon or evening, don’t be surprised that your gold is only valued at IDR 894,000 per gram by Logam Mulia.
Also Read: Within a week the price of gold fell 4.48%, investors prefer the US dollar
Anyone needs to pay attention to the two types of gold prices if they are really serious about becoming a gold bullion investor. Without taking into account the difference between the two prices, a gold investor might miscalculate the potential profit and loss.
With such a difference between the selling price and the buying price (spread), gold is only suitable for long-term investment. In the long term, we hope that the price of gold will rise much higher so that it will be able to cover the difference between the selling price and the buyback price, as well as providing a profit.
Just for illustration, here is the calculation of the potential profit / loss if gold investors are bullied for several periods of time.
- Buying gold on September 19, 2020 (IDR 1,023,000 per gram) = -12.61% (loss)
- Buying gold on August 26, 2020 (IDR 1,011,000 per gram) = -11.57% (loss)
- Buying gold on June 26, 2020 (IDR 910,000 per gram) = -1.76% (loss)
- Buying gold on March 26, 2020 (IDR 924,000 per gram) = -3.25% (loss)
- Buying gold on December 26, 2019 (IDR 758,000 per gram) = 17.94% (profit)
- Buying gold on September 26, 2019 (IDR 762,000 per gram) = 17.32% (profit)
- Buying gold on June 26, 2019 (IDR 709,000 per gram) = 26.09% (profit)
- Buying gold on March 26, 2019 (IDR 672,000 per gram) = 33.04% (profit)
- Buying gold on December 26, 2018 (IDR 622,000 per gram) = 43.73% (profit)
The calculation above does not take into account the Value Added Tax (VAT) and a stamp duty fee of IDR 6,000.
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