Will Antam’s Gold Price Drop Below Rp. 1 Million? All pages

JAKARTA, KOMPAS.com – Gold price PT Aneka Tambang Tbk (Antam) continues to show a downward trend following the movement of global gold. Now the price is priced at IDR 1,006,000 per gram.

Director of PT TRFX Garuda Berjangka Ibrahim Assuaibi estimates, gold price going forward will continue to decline, even global gold has the potential to the level of 1,700s dollar AS per troy ons.

“There is a possibility that in the months September-October the price of gold will return to around 1,700 (US dollars per troy ounce). That means, the metal price will most likely start at Rp. 850,000, “he told Kompas.com as quoted on Sunday (9/27/2020).

Also read: An increase of IDR 7,000, how much is Antam’s gold price today?

According to him, this was influenced by several global sentiments, such as the discovery of the Covid-19 vaccine by a number of countries, which showed the potential for economic recovery.

Besides, it was caused outlook interest rates The Central Bank of the United States (US), The Fed, which previously will keep interest rates low until 2023, now the market sees a possibility of rising before 2023.

So the US dollar currency becomes attractive because the money supply will decrease, so that there will be many people who tend to shift their investment to US dollars.

In addition, it is also influenced by the uncertainty of the next US stimulus to help the superpower economy. So that investors began to turn to seek protection in the form of US dollars.

“Most likely until the end of December, the unemployment benefit stimulus of 400 US dollars per week will not be carried out. So in the end, the market is a little disappointed, it is natural that the US dollar index continues to strengthen, “said Ibrahim.

Seeing the potential decline, Ibrahim also advised people who want to invest in gold to wait and see, so they can buy at a low price.

“Good investors wait and see first, wait at the level of 1,700s, “he said.

Also read: Erick Thohir asks PT Antam to work on the former Freeport Grasberg gold mine

Ibrahim said, when the gold price reaches a record high the pattern will indeed decline again, and it will take a long time to reach a new record.

He said, as in 2011 when gold touched its highest level at 1,920 US dollars per troy ounce, this value continued to be corrected to 1,150 US dollars per troy ounce. Only in 2020 or 9 years later, a new record was reached to the level of 2,074 US dollars per troy ounce.

“Now the level of 2,074 (US dollars per troy ounce) has been reached, meaning that gold is likely to be corrected at this time,” said Ibrahim.

Also read: Details of the Latest 24 Carat Gold Bar Prices at Pegadaian

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