Antam’s Gold Price Dropped Rp. 10,000 Today, So This Is It

akarta, Armfalcon.com– Antam’s gold price today (30/3/23) fell along with the decline in world gold prices. At the LM Graha Dipta Pulo Gadung gold boutique, the price of 1-gram Antam gold fell Rp. 10,000 to Rp. 1,072,000 per stick.

Meanwhile, Antam’s gold buyback price also decreased and was set at IDR 957 thousand per gram, down IDR 10,000 from the previous trade.

The price of Antam’s gold that is traded varies in terms of size. For more details, see today’s gold price data.

The drastic fall in Antam’s gold price cannot be separated from the impact of the drop in world gold prices. At the close of trading on Wednesday (29/3/2023), gold closed at US$ 1,964.04 per troy ounce. The price of the precious metal shrank 0.49%.

World gold slumped after the United States (US) dollar strengthened sharply yesterday. The weakening of gold was also due to the easing of market worries about the US banking crisis.

The US dollar index closed at 102.64 yesterday. This position was higher than the previous day which was recorded at 102.43.

The strengthening of the US dollar is of course a negative impact on precious metals. A stronger dollar makes the purchase price of gold rise, making it even more unaffordable.

The collapse of gold today was only a few days after the precious metal flew high.

Gold soared on March 10-23 2023. During that period, gold soared 8.9%.

The surge in gold prices in that period was supported by market worries after three United States (US) banks collapsed namely Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank.

However, as the crisis eased, gold’s appeal faded.

Nevertheless, ING analysts still see that gold has a big chance of rising sharply. ING estimates that the price of gold will be around US$ 2,000 in the fourth quarter of 2023.

“The price of gold is expected to weaken in the short term. However, gold will continue to climb in the second half of this year and can move around US$ 2,000 in the fourth quarter of 2023,” wrote ING in its report, quoted fromKitco News.

However, there are conditions that must be met for gold to fly again.

“The assumption is if the banking crisis gets worse and The Fed starts cutting interest rates at the end of the year,” added ING.

CNBC INDONESIA RESEARCH

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