Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Thursday (13/6/2024) at the LM Graha Dipta Pulo Gadung gold boutique was recorded to have increased by IDR 3,000 to IDR 1,341,000 per gram.
Likewise for price buyback (the price used when reselling gold) increased by IDR 8,000 to IDR 1,219,000 per gram.
Following are the details of Antam's gold price today, Thursday 13 June 2024:
The increase in Antam's gold price is in line with world gold prices which maintained a positive trend with increases for three consecutive days, even though the Fed remained hawkish amidst inflation that was sloping more than expected.
Launching data Refinitiv, in yesterday's trading, Wednesday (12/6/2024) the price of gold was at US$ 2,322.50 per troy ounce, strengthening 0.27% in a day.
Gold still maintained prices above the psychological level of US$ 2,300 per troy ounce, and continued its three-day upward rally, even though the Fed kept interest rates on hold, as expected by the market.
The dot-plot projections of FOMC members show that most members expect only one 25 bps rate cut this year, on average, and four members expect no cut at all.
Meanwhile, policymakers expressed less optimism about disinflation in the US economy, while growth expectations remained, thereby adding pressure to policy remaining hawkish.
Even so, gold prices continued to maintain gains in the positive zone, thanks to the release of US annual headline inflation which sloped better than expected.
US annual headline inflation unexpectedly eased to 3.3% in May 2024, while core inflation fell more than expected to 3.4%. Dovish shifts in other major central banks also supported gold, with rate cuts by the ECB and BoC ahead of expected rate cuts by the BoE and PBoC.
The US dollar index (DXY) which is starting to correct also supports strengthening gold prices. CNBC Indonesia monitored until yesterday's close, the DXY had corrected 0.54% and returned below the 105 level.
CNBC INDONESIA RESEARCH
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