Sell ​​Or Hold? Antam’s Gold Price Rises Again…

Jakarta, CNBC Indonesia – The purchase price of gold bullion sold by PT Antam Tbk strengthened in today’s trading, Wednesday (13/4/2022).

Launching data from the official website of PT Antam, logammulia.comthe price of 1 gram gold bullion is at Rp. 1.006.000/bar, an increase of Rp. 4,000/gram or 0.5% from the previous position.

Meanwhile, the price buyback (the price used when selling gold back) also increased. In today’s trading the price of gold buyback recorded at IDR 911,000/gram, an increase of IDR 4,000.

“The resale price is the same for all shards and years of production. For transactions buyback please contact the nearest LM Gold Boutique with service hours on weekdays Monday-Friday. Payment is made by transfer on D+2 to D+3 (working days). If the packaging is damaged or lost, a discount will be imposed in accordance with the applicable terms and conditions,” explained the statement on the Antam website.

Antam’s Precious Metals price moves with world gold prices. Yesterday, the price of gold in the spot market closed at US$ 1,977.73/troy ounce, up 0.57% compared to the previous day, the highest in a month. This increase was supported by high inflation in the United States (US).

The ongoing conflict between Russia and Ukraine has made commodity prices soar. Especially the price of energy such as crude oil, natural gas, and coal. As a result, inflation is heating up.

ASrecorded annual inflation of 8.5% in March 2022, the highest since December 1981. This inflation record was also above the previous month’s inflation of 7.9%. It also exceeded expectations in the consensus of economists by 8.4%.

The market seems indifferent to the consequences of more aggressive interest rate hikes by the US central bank, the Federal Reserves/The Fed due to persistently soaring inflation. “Gold appears to be ignoring US rate hikes and is focusing specifically on inflation,” said Edward Meir, an analyst at ED&F Man Capital Markets.

The high inflation rate is a positive sentiment for gold. When inflation increases, the value of money becomes eroded, making gold the choice of investors to protect the value of their assets. This is because the amount of gold is relatively limited because the amount cannot increase quickly so the price will continue to strengthen, even though it fluctuates in daily movements.

Reuters technical analyst Wang Tao sees the opportunity for world gold prices to increase wide open. Because currently the world gold price has managed to break through the resistance of US$ 1,975/troy ounce. The next target is the gold price at US$ 1,984 – 1,998/troy ounce.

[Gambas:Video CNBC]

(ras)

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