akarta, Armfalcon.com– Antam’s gold price on Monday’s trade (15/5/23) did not change at a time when global gold prices were projected to be unstable.
At the LM Graha Dipta Pulo Gadung gold boutique, the price of 1-gram Antam gold remained at Rp. 1,060,000 per stick. The price has not changed compared to Saturday (13/5/2023).
Meanwhile, Antam’s gold buyback or buyback price is set at IDR 956 thousand per gram, this price has also not changed 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 stagnant movement of Antam’s gold price occurred at a time when the world gold price was expected to be determined by the “feud” regarding the debt of the United States (US) government.
Last week, gold prices fell 0.27%. This is the first time gold has weakened in the last three weeks. Gold closed trading last weekend, Friday (12/5/2023) at US$ 2,011.15 per troy or the lowest since May 1, 2023.
The price movement of gold will be largely determined by the settlement of the messy US government debt ceiling. The discussion on this debt will involve two important institutions in the US, namely the US legislature and executive.
The executive is President Joe Biden while the legislature is congress, including the House of Representatives (DPR).
Biden is scheduled to meet with US House Speaker Kevin McCarthy and other top congressional leaders to discuss debt settlement on Tuesday (16/5/2023).
As is known, the administration of US President Joe Biden has been messing around with a debt settlement stalemate for months.
US Treasury Secretary Janet Yellen again urged Congress to raise the federal debt limit of US $ 31.4 trillion to prevent an unprecedented default or default. According to him, this will trigger a global economic ‘catastrophe’.
RBC Capital Markets analyst, Christopher Louney, explained that gold could become a “winner” if the debt problem did not go away or even got worse.
Gold is a safe asset to look for when there is economic and political uncertainty.
CNBC INDONESIA RESEARCH
Unstoppable! Antam’s Gold Price Continues Fast