Jakarta, CNBC Indonesia – The purchase price of gold bullion sold by PT Antam Tbk fell in today’s trading, Monday (25/4/2022). Followed by price buyback.
Launching data from the official website of PT Antam,logammulia.comthe price of 1 gram gold bullion was at Rp 982,000/bar, down Rp 6,000/gram or 0.6% from the previous position.
Following the purchase price, the price buyback (the price used when selling gold back) also weakened. In today’s trading the price of gold buyback recorded at IDR 886,000/gram, a decrease of IDR 6,000.
“The resale price is the same for all shards and years of production. For transactions buyback please contact the nearest LM Gold Boutique with service hours on weekdays Monday-Friday. Payment is made by transfer on D+2 to D+3 (working days). If the packaging is damaged or lost, a discount will be imposed in accordance with the applicable terms and conditions,” explained the statement on the Antam website.
The price of gold fell in line with the correction of world gold prices. Yesterday, the world benchmark gold price on the spot market closed at US$ 1,897/troy ounce, down 1.66% compared to the previous day’s position.
Navneet Damani of Motilal Oswal Financial Services said the weakening of gold prices was triggered by the strength of the US dollar as the signal for an increase in the Fed’s benchmark interest rate by 50 bps was getting bigger. Expectations of a Fed rate hike also soar yield US government debt.
Yield10-year US Treasury notes touched 2.89%, matching the December 2018 record.
“Gold needs new fundamental factors that can lift and attract investors and trader. The current flat and uncertain trading conditions may make a lot of people prefer to sell gold,” said Jim Wycoff, analyst at Kitco, as quoted by Reuters.Reuters.
Reuters technical analyst Wang Tao said spot gold could test the spot support at US $ 1,915/troy ounce, with a chance to continue down below the level support and fell towards US$1,889/troy ounce.
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