Reporter: Aerospace Wisdom | Editor: Avanty Nurdiana
KONTAN.CO.ID – JAKARTA. Towards the day of Eid, the gold shop is packed with potential buyers. So, is this period the right time to buy gold or vice versa?
Understandably, ahead of Eid, the price of Antam’s certified gold bullion actually moves down. Thursday (28/4), Antam’s gold price was at Rp 975,000 per gram. Meanwhile, the buyback price is at Rp. 876,000 per gram.
Global Kapital Investama analysts said that the current decline in gold prices could be the right period for people to buy precious metals. However, he reminded, physical gold investment must be with long-term investment goals.
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Understandably, short-term gold price increases are limited. Investors can even lose money because the buyback price is lower. “For investors who already have gold, it might be better to hold it first because in the long term there is still potential for an increase,” said Alwi, Wednesday (27/4).
Fed effect
DC Futures analyst Lukman Leong also said that in the near future the price of gold could still be corrected, driven by the Fed’s ultra-aggressive policy in raising its benchmark interest rate. As a result, the United States (US) dollar will strengthen, so that gold prices can be depressed.
According to Lukman, Antam’s gold will be very interesting to collect when it breaks below the level of Rp 950,000 per gram. He believes that in the future the gold price has a chance to strengthen.
Lukman assessed, the potential for the conflict between Ukraine and Russia to continue for a longer time and the possibility of a slowing economy due to the lockdown policy in China could lift gold prices up again. “Perhaps the end of the third quarter of 2022 will see the effects of the Fed’s policies subside and gold reaches an attractive level for investors,” he said. Lukman estimates that the spot gold price could drop to US$ 1,750 per troi ounce.
Alwi also sees that the conflict between Russia and Ukraine will continue to cause uncertainty, so gold will be in demand as a safe haven. Moreover, there is news that Russia will stop gas exports to Poland, indicating that the conflict will not end in the near future.
Alwi added that concerns related to high inflation actually benefited gold. Because gold has the potential to be hunted for hedging. “It is possible that the world gold price by the end of the year will be at US$ 1,950 per troi ounce, before breaking through to US$ 2,000 next year,” he said. Then Antam’s gold will reach Rp 990,000 at the end of the year.
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According to Lukman, Antam’s gold price could return to Rp 1 million by the end of the year. While spot gold will be at US $ 1,900 per troy ounce this year and US $ 2,100 per troy ounce next year.
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