Pawnshop Gold Prices Drop, Time to Dig!

Jakarta, CNBC Indonesia – After falling in the last two days, the majority of gold bullion prices at Pegadaian were stagnant on Sunday (28/11). However, there is one type that has experienced a decline, although not large, namely retro Antam gold.

According to data from Pegadaian’s official website, Antam’s retro gold today fell 0.22% to 0.40%. Antam retro is an old gold bar where the gold and certificate are separate.

Retro Antam gold was last produced in 2018, and is available from 0.5 grams to 100 grams.

Unit Antam Retro Price Today Yesterday’s Retro Antam Price Retro Gold Change (Rp) Retro Gold Change (%)
0.5 IDR 492,000 Rp494.000 -Rp2,000 -0,40%
1.0 IDR 921,000 Rp923,000 -Rp2,000 -0,22%
2.0 IDR 1,824,000 Rp1.828.000 -Rp4.000 -0,22%
3.0 IDR 2,709,000 Rp2,715,000 -Rp6.000 -0,22%
5.0 IDR 4,500,000 Rp4.512.000 -Rp12.000 -0,27%
10.0 IDR 8,945,000 Rp8.966.000 -Rp21.000 -0,23%
25.0 Rp22,234,000 Rp22,288,000 -Rp54.000 -0,24%
50.0 Rp44.387.000 Rp44.495.000 -Rp108.000 -0,24%
100.0 Rp88.695.000 Rp88.909.000 -Rp214.000 -0,24%

Other gold, namely Antam standards and batik and UBS gold are stagnant in all sizes/units today.

Unit Antam Price Price of Antam Batik UBS price
0.5 Rp536.000 Rp608.000 Rp494.000
1.0 Rp966.000 Rp1.122.000 Rp925.000
1.06 Rp0 Rp0 Rp0
1.5 Rp0 Rp0 Rp0
2.0 Rp1.869.000 Rp0 Rp1.834.000
2.5 Rp0 Rp0 Rp0
2.13 Rp0 Rp0 Rp0
3.0 Rp2,777,000 Rp0 Rp0
4.0 Rp0 Rp0 Rp0
4.25 Rp0 Rp0 Rp0
5.0 Rp4.592.000 Rp0 Rp4.531.000
8.0 Rp0 Rp8.470.000 Rp0
10.0 Rp9.127.000 Rp0 Rp9.014.000
20.0 Rp0 Rp0 Rp0
25.0 Rp22,687,000 Rp0 Rp22.490.000
50.0 Rp45.291.000 Rp0 Rp44.886.000
100.0 Rp90.500.000 Rp0 Rp89.737.000
250.0 Rp225.973,000 Rp0 Rp224.276.000
500.0 Rp451.726.000 Rp0 Rp448.023.000
1000.0 Rp903.410.000 Rp0 Rp895.077.000

The world gold price which began to stabilize after experiencing a sell-off earlier this week made the majority of gold bullion in Pegadaian stagnant.

Yesterday’s world gold price was still stable with only a slight increase of 0.03% to US$ 1,792.60/troy ounce even though in the midst of inflation conditions in the United States again showing an increase, even the release of the minutes of the Fed’s monetary policy meeting also showed that many board members were ready to accelerate normalization if inflation continues to be high.

One of the reasons for this slight increase was the discovery of a new variant of the COVID-19 which caused a massive sell-off in global equity markets, which caused many of the world’s stock exchanges to close in red this weekend. This increase can also be a ‘code’ for gold in the Pawnshop. Based on the observations of the CNBC Indonesia Research Team, world gold prices will affect Antam’s gold two days later.

This means that yesterday’s strengthening of world gold will affect the gold price at the Pawnshop tomorrow.

However, there are other factors that influence the rupiah exchange rate and supply-demand. These two factors make the percentage increase/decrease in gold prices at Pegadaian can be larger/smaller, sometimes even in the opposite direction to world gold.

After the release of inflation data and the minutes of the Fed’s meeting, market participants now see an 80% probability that the Fed will raise interest rates in June 2022, faster than the previous semester II-2022.

This can be seen from the CME Group’s FedWatch tool, where there is a 19.5% probability that the Fed will maintain interest rates at 0% – 0.25%. While the probability of raising interest rates is more than 80%, which is divided into several basis points of increase.

For an increase of 25 basis points (0.25%) to 0.25% – 0.5% the highest probability is 43.4%. Then a 50 basis point increase is a 30% chance.

Interest rates are one of the main “enemies” of gold, when interest rates in the US rise, the attractiveness of gold as a non-yielding asset will decrease. In addition, the opportunity cost of investing in gold will also increase. But gold is still able to stabilize in the last two days, is this a good sign?

[Gambas:Video CNBC]


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