Hurry Check! Antam’s Gold Price Has Dropped This Way

Jakarta, Armfalcon.com – The price of Precious Metals gold produced by PT Aneka Tambang Tbk on Saturday trading (19/4/2023) at the LM Graha Dipta Pulo Gadung gold boutique was observed to have fallen Rp. 6,000 per gram to Rp. 1,060,752 per gram.

Meanwhile, the buyback price (the price used when selling gold again) also fell by IDR 6,000 per gram to IDR 950,000 per gram.

“The resale price is the same for all fractions and the year of production. For buyback transactions, please contact the nearest LM Gold Boutique with service hours on Monday-Friday weekdays. Payments are made by transfer on H+2 to D+3 (weekdays) “If the packaging is damaged or lost, it will be deducted according to the terms and conditions that apply,” explained the statement on Antam’s website.

PT Antam sells gold ranging in size from 0.5 gram to 1,000 gram. The selling price does not include 0.9% tax for purchases without using a Taxpayer Identification Number (NPWP), and 0.45% with an NPWP.

The world price of gold, which is priced in United States (US) dollars, is the main driver of domestic gold bullion prices. The ups and downs tend to follow world gold, although with different percentages. Besides that, supply-demanddomestically also affects Antam’s gold price.

The decline in Antam’s domestic gold price occurred amid rising world gold prices on the spot market. The price of gold is still running fast because of the increasingly sloping United States (US) labor data.

In trading Friday (28/4/2023) the world gold price ended slightly up 0.09% to US$ 1,989.65 per troy ounce. Gold’s rise was triggered by falling yields and renewed concerns over US banking turmoil.

The Fed issued a detailed, scathing assessment of its failure to identify problems and push for improvements at Silicon Valley Bank before the lender collapsed, promising tighter oversight and more detailed rules.

“The Fed report peaked around the same time as the 10-year Treasury yield cut, turning gold positive, but it all hinges on what (Fed Chair Jerome) Powell will say next week,” said Daniel Pavilonis, senior market strategist at RJO Futures quoted CNBC International.

Benchmark yields fell after data showed the overall inflation rate slowed in March and consumer spending stabilized.

Data released early Friday showed the personal consumption expenditures price index rose 0.3% in March, in line with economists’ expectations. The index is the main gauge of inflation for the Federal Reserve, which has a policy meeting scheduled for next week.

But the data also indicated that underlying price pressure remains strong, prompting traders to increase bets for a rate hike next week.

Meanwhile, ahead of this weekend the US reported that 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 has continued to grow for three consecutive quarters.

CNBC INDONESIA RESEARCH

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