Jakarta, CNBC Indonesia – Price of gold produced by PT Aneka Tambang (Antam) Tbk. or what is known as Antam gold, was observed to tend to be stable in trading on Saturday (25/5/2024), after being corrected in the previous two days.
According to data from the official PT Antam website, metalmulia.comat the LM Graha Dipta Pulo Gadung gold boutique, the price for 1 gram of gold today is IDR 1,325,000/piece or still the same as last Friday's price position.
On the same hand, the repurchase price or buyback Antam gold was set at IDR 1,211,000 per gram, also stable from yesterday's price position.
The following is Antam's gold price today:
Antam's gold price tends to follow global gold price movements which were also corrected in trading on Tuesday and Wednesday this week. However, when global gold prices started rebounding Last Friday, Antam's gold price tended to not rise.
Launching data from Refinitivat the close of trading yesterday, global gold prices closed up 0.23% to position US$ 2,333.76/troy ounce. However, in the last week, global gold prices fell 3.36%.
Rebound-The rise in global gold prices occurs amidst relatively high demand for gold from China's central bank (People's Bank of China/PBoC).
Quoted from kitco.comChina remains a strong control over price movements in the global gold market, and the latest data suggests that this is likely to continue.
According to a recent analysis by Jan Nieuwenhuijs of Gainesville Coins, it is stated that since 2022 central banks have mostly purchased gold in disguise (often referred to as “unreported” purchases).
“By now, it is widely known that the World Gold Council (WGC) publishes a single statistic on aggregate purchases by central banks every quarter, which is much higher than the combined reports of the monetary authorities,” Nieuwenhuijs said.
“Taking into account unreported purchases, China's central bank now has gold reserves of 5,542 tonnes, according to my research,” Nieuwenhuijs added.
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