Has THR Disbursed? Immediately Wholesale Antam Gold While Jumbo Discounts

akarta, Armfalcon.com– Antam’s gold price fell again in the second trade this week (11/4/23) in response to the collapse of the global gold price outside the $2,000 psychological zone. At the LM Graha Dipta Pulo Gadung gold boutique, the price of 1-gram Antam gold fell by IDR 3,000 to IDR. 1,069,000 per stick.

Meanwhile, Antam’s gold buyback price increased and was set at IDR 962 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 trading Monday (10/4/2023), gold closed at US$ 1989.65 per troy ounce. The price of the precious metal fell 0.91%.

This weakening extended the negative trend of gold which has weakened since last Thursday. In two trading days, gold fell 1.52%.

Yesterday’s weakening also knocked gold out of the psychological level of US$ 2,000 after holding at that level for three days, namely April 4-6, 2023.

World gold weakened due to increasing market concerns about the policies of the US central bank, The Federal Reserve (The Fed).

Concerns increased after US employment data did not fall as expected, and the unemployment rate in the US actually fell in March 2023.

This sparked market concerns that US employment data is still hot and inflation has not fallen as fast as the Fed’s expectations. The market expected that US inflation would ease in March, but expectations of an increase in the Fed’s benchmark interest rate made gold prices fall even more.

According to Daniel Pavilonis, an analyst at RJO Futures, expectations of an increase in interest rates are still very large and that makes gold fall even more.

Market expectations now show that 72% of market participants expect the Fed to raise its benchmark interest rate by 25 bps in May. Compare that to last week where the figure was only 43%.

However, Exinity analyst, Han Tan, cautioned that the price of gold could strengthen again if the inflation data shows that inflation is much lower than market expectations.

Market players need to monitor developments in US inflation data to anticipate future movements in gold prices.

Meanwhile, the US dollar has regained strength due to expectations of an increase in the Fed’s benchmark interest rate. The dollar index this morning moved at 102.5 or the strongest position in five trading days. This also had an impact on the price of gold which was getting weaker due to the strengthening of the US dollar.

CNBC INDONESIA RESEARCH

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[Gambas:Video CNBC]