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Upheaval in the World of Precious Metals, Gold in Pawnshops ‘Fall’ All!

Jakarta, CNBC IndonesiaThe metal world has been in a commotion since last Tuesday, because the world gold price, which had soared by more than 1.3%, immediately reversed. see 0.6%. The reason is the statement of the chairman of the central bank of the United States (US) or known as the Federal Reserve (The Fed).

The collapse of gold last Tuesday had an impact on the price of gold bullion at Pegadaian in today’s trading, Thursday (2/12). Pegadaian sells 3 types of Antam gold and UBS gold in various sizes/units, all of them “dropped”.

According to data from Pegadaian’s official website, Antam’s retro gold fell the steepest today, in the range of 0.91% to 1.01% compared to yesterday’s price.
Antam retro is an old gold bar where the gold and the 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 Retro Gold Change (Rp) Retro Gold Change (%)
0.5 Rp492,000 -Rp5.000 -1,01%
1.0 Rp921.000 -Rp9.000 -0,97%
1.06
1.5
2.0 Rp1.824.000 -Rp17.000 -0,92%
2.5
2.13
3.0 Rp2,709,000 -Rp25,000 -0,91%
4.0
4.25
5.0 Rp4.501.000 -Rp42.000 -0,92%
8.0
10.0 Rp8.946.000 -Rp84.000 -0,93%
20.0
25.0 Rp22.236,000 -Rp209.000 -0,93%
50.0 Rp44.391.000 -Rp418.000 -0,93%
100.0 Rp88.704.000 -Rp834.000 -0,93%

Then UBS gold fell in the range of 0.59% to 0.81%. The pawnshop sells the most complete gold, from 0.5 grams to 1,000 grams.

Unit UBS price UBS Gold Change (Rp) UBS Gold Change (%)
0.5 Rp492,000 -Rp4.000 -0,81%
1.0 Rp922.000 -Rp6.000 -0,65%
1.06
1.5
2.0 Rp1.830.000 -Rp11.000 -0,60%
2.5
2.13
3.0
4.0
4.25
5.0 Rp4.521.000 -Rp27.000 -0,59%
8.0
10.0 Rp8.993.000 -Rp54.000 -0,60%
20.0
25.0 Rp22.437.000 -Rp136.000 -0,60%
50.0 Rp44.780.000 -Rp272,000 -0,60%
100.0 Rp89.523.000 -Rp545.000 -0,61%
250.0 Rp223.741.000 -Rp1.362.000 -0,61%
500.0 Rp446.953.000 -Rp2,722,000 -0,61%
1000.0 Rp892.939.000 -Rp5.439.000 -0,61%

There is another standard Antam, also available from 0.5 grams to 1,000 grams, but the drop is smaller than UBS. Antam standards today are down 0.52% to 0.57%.

Unit Antam Price Change (Rp) Change (%)
0.5 Rp533,000 -Rp3.000 -0,56%
1.0 Rp962,000 -Rp5.000 -0,52%
1.06
1.5
2.0 Rp1.871.000 -Rp10.000 -0,5%
2.5
2.13
3.0 Rp2,780,000 -Rp15.000 -0,5%
4.0
4.25
5.0 Rp4.598.000 -Rp26.000 -0,57%
8.0
10.0 Rp9.138.000 -Rp52.000 -0,57%
20.0
25.0 Rp22,713,000 -Rp130.000 -0,57%
50.0 Rp45.342.000 -Rp259,000 -0,57%
100.0 Rp90.603.000 -Rp518.000 -0,57%
250.0 Rp226.232.000 -Rp1.298.000 -0,57%
500.0 Rp452.246.000 -Rp2,597,000 -0,57%
1000.0 Rp899.255.000 -Rp5.194.000 -0,57%

Lastly, Antam is a type of batik. This gold is the most expensive at the Pawnshop, but the decline today is the smallest.

Unit Price of Antam Batik Change of Batik Gold (Rp) Batik Gold Change (%)
0.5 Rp606.000 -Rp2,000 -0,33%
1.0 Rp1.118.000 -Rp5.000 -0,45%
1.06
1.5
2.0
2.5
2.13
3.0
4.0
4.25
5.0
8.0 Rp8.436.000 -Rp42.000 -0,50%

The world gold price which turned down last Tuesday and was caused by the chairman of the Fed, Jerome Powell said it could accelerate the pace tapering or a reduction in the value of the asset purchase program (quantitative easing/QE) which made gold slump. Some elite Fed officials are pushing for acceleration tapering, but the market sees Powell not being that aggressive.

In fact, Powell also expressed the same opinion, the world of precious metals was in a commotion, gold previously soared directly see.

However, many analysts see Powell’s statement will only put pressure on gold temporarily. Yesterday, the world gold price managed to gain 0.5% which could lift the gold price at Pegadaian tomorrow.

“Powell’s remarks provide a drag for gold in the short term, but won’t have a long term impact as it accelerates tapering the market has anticipated,” said Harshal Barot, senior consultant at Metals Focus, as reported by Reuters, Wednesday (1/12).

“There is still a lot of uncertainty in economic growth due to the latest variant of the corona virus and whether the high inflation is temporary or will it last long, it will hold gold’s decline further,” he added.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(pap / pap)



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