Antam’s Gold Price Has Dropped to Below Rp. 1 Million, Is it the Right Time to Buy? All pages

KOMPAS.com – Price gold bar PT Aneka Tambang (Persero) Tbk fell to below IDR 1 million on Tuesday (10/11/2020).

Reported Kompas.com, Tuesday (10/11/2020), gold price now it is at Rp. 972,000 per gram or a drop of Rp. 34,000 when compared to the price of gold on Monday (9/11/2020).

Meanwhile, prices buyback or the price obtained if the holder gold Antam want to sell gold bars at a price of Rp. 857,000. This figure is down Rp 42,000 when compared to yesterday’s price.

For the record, price gold Antam this applies at the Antam Pulogadung office, Jakarta. Meanwhile, Antam’s other gold sales outlets can be different.

Also read: Dropped by IDR 34,000, Antam’s Gold Price Is No Longer Over IDR 1 Million

Is it a good time to buy?

Although the price has decreased, gold analyst and Director of PT TRFX Garuda Berjangka Ibrahim Assuaibi advised the public not to rush into buying. gold.

“At this time, if possible wait and see first, “said Ibrahim when contacted Kompas.com, Tuesday (10/11/2020).

Ibrahim said the international gold price fell because of a statement from Joe Biden, the President-elect of the United States, who said that there were two Covid-19 vaccines from the US and Europe whose status was 90 percent.

“Most likely (the vaccine) will be distributed in early January, while the available vaccine dose is only 50 million,” said Ibrahim.

He said, the statement from Biden had made market players who had previously invested in safe haven immediately transferred the funds to stocks and bonds, so that the price of gold fell.

Also read: Gold Prices Dropped 97.3 US Dollars, This Is Why

Hope the economy improves

Ibrahim said, another factor that made the price of gold go down was Biden’s statement that it would take effect lockdown in the US so appointed President of the US.

Biden also revealed that he plans to form a special team to be dispatched to Wuhan, China, to study Covid-19.

“If these programs are implemented, economic growth will quickly recover. This has resulted in speculators diverting their funds to bonds and stocks, so it is natural that last night the price of gold tended to decline significantly,” said Ibrahim.

In addition, he also said the market was being confused by the chaos of the US Presidential Election, because Donald Trump still did not want to admit his defeat to Joe Biden and planned to file a lawsuit.

“Most likely, in November-December there will be an appeal from Trump to the Constitutional Court. Trump himself still considers that the previous presidential election was fraudulent. This has resulted in uncertainty regarding the transition team to date,” said Ibrahim.

Also read: Two Covid-19 Task Forces Fake Citizens, Invite To Chat and Bring 50 Gram Gold Escape

When is the right time to buy gold?

By considering these various factors, Ibrahim said there is a possibility that the gold price will be corrected again.

“Now, if it is corrected to the level of 1,830, that is the right time for people to collect precious metals. For what? We know that when international gold falls, the rupiah will also strengthen. So that the price of precious metals in Indonesia will be cheaper,” he said.

Ibrahim said that this moment was the best opportunity for market players to purchase precious metals.

He explained that the price of gold in Indonesia is predicted to fall to Rp 924,000 per gram.

“When the precious metal is priced at Rp 924,000, it is the right time for people to buy,” said Ibrahim.

Also read: Indonesia is Projected a Recession, What are the Prospects for Gold Investment?

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