Gold Prices Rise Infinitely

Antam's Gold Price Soars. The price of Antam's certified gold bullion issued by PT Aneka Tambang Tbk (ANTM) Precious Metals jumped on Saturday (6/11). Citing the Precious Metals website, the price of one gram of Antam gold is Rp. 946,000. Antam's gold price jumped by Rp. 12,000 from Friday's price (5/11) which was at Rp. 934,000 per gram. Meanwhile, Antam's gold buyback price was at Rp 839,000 per gram. The price jumped by Rp. 14,000 compared to the buyback price on Friday (11/5) which was at Rp. 825,000 per gram.

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The following is Antam's gold bullion price in other denominations as of Saturday (6/11) and does not include tax:

0.5 gram gold price: IDR 523,000

Price of 1 gram of gold: IDR 946.000

5 gram gold price: IDR 4,505,000

10 gram gold price: IDR 8,955,000

Price of 25 grams of gold: IDR 22,262,000

50 gram gold price: IDR 44,445,000

Price of 100 grams of gold: IDR 88,812,000

Price of 500 grams of gold: IDR 443,320,000

Price of 1000 grams of gold: IDR 886.600.000

Information:

Precious Metals Antam sells gold and silver bars in several weight sizes (eg 1 gram, 2 gram, and 500 gram). Usually the price per gram of Antam gold will vary depending on the weight of the bar. This difference occurs because there is an additional cost for printing, so the price per gram of Antam's gold bars is more expensive than larger bars. The price here is the price per gram of 1 kilogram gold bar which is usually used as a benchmark for gold business people.

Gold prices near their highest level in 2 months, closing up 1.4% to US$ 1,818.4. Gold rose more than 1% on Friday to a nearly two-month high as the dovish tone of a number of major central banks on interest rates lifted demand for the precious metal, which is a safe-haven asset.

Friday (5/11), spot gold prices closed up 1.4% to US $ 1,818.36 per troi ounce, recovering from a 0.3% decline triggered by data showing employment in the United States (US) increased more than expected. expected last October. In a week, spot gold rose 2%. Similarly, gold futures prices for December 2021 delivery contracts closed up 1.3% at US$ 1,816.80 per troi ounce. Gold futures prices rose 1.8% this week.

The limited reaction to the data showed "despite the strong labor market report, it won't change what Federal Reserve Chair Jerome Powell has shown this week," said Edward Moya, senior market analyst at OANDA. The Federal Reserve on Wednesday (3/11) stuck to its view that high inflation will prove "temporary" and will likely not require a rapid rate hike. Continued support for gold came after the Bank of England surprised markets by keeping interest rates on hold.

Near-zero interest rates to spur economic growth during the Covid-19 pandemic have pushed gold prices to new highs over the past two years, as easy monetary policy cuts the opportunity cost of holding non-yielding assets. This week, the central bank's announcement helped gold bounce back from losses earlier in the week and is on track for its best weekly gain since late August of around 1.8%.

"Gold bulls appear to be drawing strength from the Fed's unhurried stance in raising interest rates," said FXTM analyst Lukman Otunuga. He added that weak treasury yields were also underpinning gains. Yields on the benchmark 10-year US Treasury slumped to their lowest in about a month. Demand for physical gold in India, the world's second-largest consumer, surged this week as buyers took advantage of a slight drop in prices and bought the precious metal during the festival season.