Antam’s Gold Price Not Moving After Eid, Less Holidays?

Jakarta, Armfalcon.com– Antam’s gold price remained stagnant or unchanged on Friday trading (28/4/23). At the LM Graha Dipta Pulo Gadung gold boutique, the price of 1-gram Antam gold remains at Rp. 1,062,000 per stick.

Thus, Antam’s gold price has not moved for the last two trading days. Antam’s gold price has not changed at Rp 1,062,000 since trading resumed after the Idul Fitri 1444H holiday.

Meanwhile, the repurchase price or buyback Antam’s gold is also not moving and is set at IDR 956 thousand per gram.

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

Meanwhile, at the close of trading on Thursday (27/4/2023), world gold closed at US$ 1,987.87 per troy ounce. The price of the precious metal edged down 0.08%.

Yesterday’s weakening extended the negative performance of gold which also fell 0.42% in the previous trading day.

Gold weakened as the United States (US) dollar returned to strength. The dollar index closed at 101.50 yesterday, from 101.47 the previous day.

The US dollar strengthened as market participants increasingly believed the US central bank The Federal Reserve (The Fed) would raise interest rates by 25 bps next week. The odds are now at 87%. The Fed will announce policy next week.

Moreover, the latest data shows that US inflation is still going strong.

The US Department of Commerce reports the US economy grew by 1.1% (year on year/yoy) in the first quarter of 2023, lower than the estimate of 2%.

Growth in January-March 2023 was also much lower than in the fourth quarter of 2022 which was recorded at 2.6%.

Despite the slump, the US economy continues to grow in three consecutive quarters.

CNBC INDONESIA RESEARCH

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(mae)