Jakarta, CNBC Indonesia – The price of gold bars produced by PT Aneka Tambang (Antam) Tbk. last week moved like a roller coaster. The movement follows world gold which is also up and down sharply, and is said to have big problems.
In today’s trading, Monday (18/10), Antam’s gold price rose slightly by Rp 1,000/gram. Gold weighing 1 gram is sold for Rp. 915,000/bar with a percentage increase of 0.11%.
PT Antam sells gold bars from 0.5 grams to 1,000 grams, all of which have decreased. However, the selling price does not include 0.9% tax for purchases without using a Taxpayer Identification Number (NPWP), and 0.45% with a TIN.
| Heavy | Basic price | TIN Price (+Tax 0.45%) | Non NPWP Price (+ 0.90% Tax) |
| 0.5 gr | 507,500 | 509,500 | 511,500 |
| 1 gr | 915,000 | 919,000 | 923,000 |
| 2 gr | 1,770,000 | 1,777,000 | 1,785,000 |
| 3 gr | 2,630,000 | 2,641,000 | 2,653,000 |
| 5 gr | 4,350,000 | 4,369,000 | 4,389,000 |
| 10 gr | 8,645,000 | 8,683,000 | 8,722,000 |
| 25 gr | 21,487,000 | 21,583,000 | 21,680,000 |
| 50 gr | 42,895,000 | 43,088,000 | 43,281,000 |
| 100 gr | 85,712,000 | 86,097,000 | 86,483,000 |
| 250 gr | 214,015,000 | 214,978,000 | 215,941,000 |
| 500 gr | 427,820,000 | 429,745,000 | 431,670,000 |
| 1000 gr | 855,600,000 | 859,450,000 | 863,300,000 |
Last week, this gold had shot up to Rp 928,000/bar, then instead plunged back to Rp 914,000/bar.
The same movement was also experienced by world gold, after having touched the level of US $ 1,800/troy ounce on Thursday last week, the day after it even fell by 1.6%. That level is said to be a big problem for world gold.
This was said by Philip Streible, a strategist at Blue Line Futures. $1,800/troy ounce is said to be strong resistance.
“Gold faces strong resistance. Gold faces a lot of resistance at US$1,800, US$1,805, US$1,815 and others. The critical level to maintain is US$1,750/troy ounce. If these levels are broken, gold will fall to US$ 1,720 to $1,685/troy ounce.
If world gold declines, then Antam’s gold price will certainly follow. However, this week, the survey results from Kitco show that gold still has the potential to rise.
The weekly survey of 13 analysts on Wall Street showed 5 people gave a bullish projection (uptrend) and 5 others gave a bearish projection (downtrend), the rest were neutral. That is, bullish and bearish balanced this week.
However, a survey conducted on market participants or the so-called Main Street, with 1,425 participants showed as many as 68% gave a bullish projection, 19% bearish, and 13% neutral.
This means that the majority of market participants surveyed are optimistic that gold prices will rise this week.
CNBC INDONESIA RESEARCH TEAM
(pap / pap)
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