Jakarta –
Gold prices recorded a decline of up to 1% on Thursday. This decline came after the Federal Reserve was reluctant to continue stimulus to support an economy that has been hit hard by the COVID-19 pandemic.
Quoting CNBC, the spot gold price fell 0.9% to US $ 1,940.96 per ounce. Then the price of gold futures fell 1.2% to US $ 1,947.4.
Julius Baer Carsten Menke analyst said the gold market was a little disappointed with the prospects for the US economy. “The market is a bit disappointed with what the Fed will do to spur inflation,” he said as quoted by CNBC, Thursday (17/09/2020).
He mentioned previously that the price of gold had moved from a position below US $ 1,200 to more than US $ 1,900.
The Fed promised to keep interest rates on track until inflation is on track with the government’s target of 2%.
Independent analyst Ross Norman revealed that the price of gold has so far gone up too much. Silver prices also decreased 1.6% to US $ 26.79 per ounce, platinum fell 2.3% to US $ 948.11 per ounce and palladium fell 1.3% to US $ 2,369.31.
Watch Video “Antam’s Gold Price Update: Increased IDR 1,000 to IDR 1,028,000 / Gram“
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