Antam’s Gold Price Drops Again Today, Get Ready to Lose

akarta,– Antam’s gold price fell during the first trade this week (10/4/23), directly proportional to the decline in global gold prices. At the LM Graha Dipta Pulo Gadung gold boutique, the price of 1-gram Antam gold fell Rp. 2,000 to Rp. 1,072,000 per stick.

Today’s price is IDR 24,000 lower compared to its highest price on March 24, 2023 which was recorded at IDR 1,096,000.

Meanwhile, the repurchase price or buyback Antam’s gold increased and was set at IDR 964 thousand per gram, down IDR 2,000 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.

At the close of last week’s trading, Thursday (6/4/2023), world gold closed at US$ 2,008.02 per troy ounce. The price of the precious metal edged down 0.061%.

This weakening broke the positive trend of gold which strengthened in the previous three trading days.

The US inflation data for March which is expected to be released this Wednesday, April 12, 2023, is expected to influence the price of gold heavily. The market expects inflation to ease from 6% (YoY) in February to between 5.2-5.4% in March.

Inflation is one of the main considerations for The Fed in determining interest rate policy in May. If inflation persists, the Fed will probably maintain a hawkish policy.

In addition to inflation data, a speech from Fed Governor Christopher J. Waller on Friday will also be in the spotlight. This speech will be faced against the backdrop of US employment data that is still less than convincing.

Although the US unemployment rate fell to 3.5% in March, job creation in the private sector added only 145,000, down from 261,000 in February and well below market expectations.

This poor employment data led the market to expect the Fed to raise its benchmark interest rate by 25 bps in May, and if the projection comes true, gold prices will likely see a decline.

An increase in interest rates will strengthen the US dollar and yields on US government bonds. These two things have a negative impact on the price of gold.

The soaring dollar makes gold even more unaffordable, while gold does not offer yields so that if yields on debt securities rise, gold will be further removed.

Therefore, if expectations of an increase in interest rates get stronger, the price of gold has the potential to fall from the psychological level of US$ 2,000.


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Antam’s Gold Price Today Has Dropped Rp. 1,000, Still More Than a Million



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