Jakarta, CNBC Indonesia – The price of Precious Metal gold produced by PT Aneka Tambang Tbk on Tuesday (9/4/2024) at the LM Graha Dipta Pulo Gadung gold boutique jumped IDR 17,000 to IDR 1,306,000. This position is the highest in history.
Likewise with prices buyback (the price used when reselling gold) is at IDR 1,197,000 per gram.
Antam's gold price soared, driven by world gold which set a record.
On trading Monday (8/4/2024) gold was on the spot marketrose 0.3% to $2,336.39 per troy ounce,after hitting a record high of $2,353.79 earlier in the session.
The rise in gold prices was influenced by China's central bank adding 160,000 troy ounces of gold to its reserves in March. Türkiye, India, Kazakhstan and several Eastern European countries have also bought gold this year.
Meanwhile market players estimate about a 52% chance of a 25 basis point cut in US interest rates in June according to the Fedwatch tool.
Nonetheless, data showed on Friday (5/4/2024) that US employment growth exceeded expectations in March, raising questions about the timing of the interest rate cut.
Lower interest rates make gold more attractive as a zero-yield investment instrument.
CNBC Indonesia Research
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