Investors are ‘hot and cold’ waiting for the Fed, Antam’s gold price is sluggish My Money – 3 hours ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Tuesday (21/11/2023) at the LM Graha Dipta Pulo Gadung gold boutique fell by IDR 2,000 to IDR 1,095,000 per gram.

Meanwhile the buyback price (the price used when selling gold again) also fell slightly by IDR 1,000 to IDR 993,000 per gram.

“The resale price is the same for all denominations and years of production. For buyback transactions, please contact the nearest LM Gold Boutique with service hours on Monday-Friday working days. Payment is made by transfer on H+2 to H+3 (working days) “If the packaging is damaged or lost, a deduction will be charged in accordance with the applicable terms and conditions,” explained the statement on the Antam website.


The following is Antam’s gold price as of Tuesday (21/11/2023):

Antam’s gold price fell slightly, not in line with the falling world gold price. In trading Monday (20/11/2023) the price of gold on the spot market closed with a correction of 0.14% at US$ 1,977.19 per troy ounce.

Gold prices fell in trading Monday as they were weighed down by rising US Treasury yields, with investors waiting for the minutes of the Federal Reserve’s latest meeting for cues on the path of the central bank’s interest rates.

“Technically we have seen gold hit resistance and return to a trading range with somewhat higher interest rates being the catalyst here,” said Bart Melek, head of commodity strategy at TD Securities, quoted fromReuters.

The Fed will maintain its narrative that monetary policy will be dependent on inflation and will maintain interest rate increases as long as necessary, he added.

CNBC INDONESIA RESEARCH

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