Breaks Rp. 1 Million, Antam’s Gold Price Reaches Its Highest Level since November 2020

JAKARTA, KOMPAS.com – Rally gold price PT Aneka Tambang Tbk (Antam) bullion continues in line with market concerns about the war between Russia and Ukraine.

In today’s trading session, Saturday (5/3/2022), Antam’s gold bullion price jumped by Rp. 15,000 per gram, to Rp. 1.005,000 per gram.

When compared to last week’s position on Saturday (26/2/2022), the price of Antam’s gold bullion per gram has strengthened 3.7 percent or Rp. 36,000.

In addition, if we look further, Antam’s gold bullion price in today’s trading session is the highest since November 2020.

Also read: World Oil Price Breaks 118 US Dollars Per Barrel, Highest Since 2013

Strengthening also occurs in prices buyback or selling Antam’s gold, which is Rp. 17,000 per gram to Rp. 912,000 per gram on March 5, 2022.

Just so you know, the world gold price in the spot market is also in a strengthening trend. Recorded in yesterday’s trading session, Friday (4/3/2022), gold closed higher at the level of 1,968.4 per troy ounce.

As is known, the Russia-Ukraine conflict which is still heating up and soaring inflation has made market players demand for assets “safe haven” gold rose.

Also read: Soaring, Antam’s Gold Price Reaches IDR 1 Million Per Gram

Gold price The world continues to strengthen due to the heating up of Russia-Ukraine geopolitics which also involves Western countries. Especially when Russia launched a full-scale attack against Ukraine.

On the other hand, a series of sanctions imposed on Russia have made commodity prices rise, supply chain bottlenecks, and slowed global growth. This condition pushed global inflation higher, and provided benefits for gold, which is a safe haven asset.

It’s not just the Russia-Ukraine war, market participants are currently looking for clues regarding the possibility of a US interest rate hike. Although gold is considered a safe investment in times of political and economic uncertainty, rising US interest rates increase the chances of losses from holding interest-free gold.

Also read: Why is Gold an Investment Choice? Check out the 5 advantages

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