TEMPO.CO, Jakarta – Director of PT TRFX Garuda Berjangka Ibrahim Assuaibi predicted gold price will continue to weaken due to the influence of US political sentiment. He said the price of gold would not move stable if the US General Election which was planned to be held on November 3 was not over.
“Gold has experienced a significant correction at the lowest level of 1,875. “It is possible to return to 1,830 if the election is not over,” said Ibrahim when contacted, Thursday, October 29, 2020.
Currently, the gold price at PT Aneka Tambang or Antam is in the range of Rp 995 thousand. If the world gold price reaches 1,830 levels, Ibrahim estimates that the price of gold sold in Indonesia will be close to Rp 900 thousand.
Gold price fluctuations are also influenced by the desire of the US market which continues to hope that the government will immediately issue further stimulus. Unfortunately, he said, the signs of giving a stimulus have not yet appeared to be poured out as long as the presidential election contestation has not been carried out.
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