This is Antam’s 24 Karat Gold News today

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The price of gold bullion produced by PT Aneka Tambang (Antam) Tbk. fell last week, following the movement of world gold prices. In fact, the previous world gold was predicted to shoot again, but in fact it reversed direction, and dragged Antam down.

So, what are the odds this week?

Meanwhile, in today’s trading, Monday (13/9/2021), Antam’s gold price stagnated, after falling by Rp. 14,000/gram last week. Gold weighing 1 gram is sold for Rp. 929,000/bar, the same as last weekend’s price. Gold is a percentage slumped nearly 1.5% in the week.

The decline was less than world gold which fell by more than 2% to US$ 1,787.34/troy ounce. Throughout last week, world gold prices were able to stay above US$ 1,800/troy ounce, which made many analysts predict world gold could fly higher. But in fact, it just fell back.

Pressure came from the US dollar index which rose 0.59% to 92.582, then the yield on the 10-year US Treasury bond rose 1.71 basis points to 1.342%.

US dollar-denominated world gold, whenthe greenbackstrengthens, the price will be more expensive for holders of other currencies. So that demand risks falling, and the price of gold is depressed.

Besides, gold is also an assetsafe haven, the same as the US Treasury. But gold doesn’t yield as much as Treasuries. So, when Treasury yields rise, gold becomes less attractive.

For this week, analysts predict world gold will not go anywhere. Kitco’s weekly survey of 15 analysts on Wall Street showed as many as 9 people or 60% gave a neutral outlook. Then 3 people give projectionsbullish(uptrend), and which provides a predictionbearish(downtrend) also the same 3 people.

Thus, if the prediction is correct, then Antam’s gold will likely not move much this week.

Meanwhile, a survey conducted on market participants or the so-called Main Street showed different results. Of the 494 participants, 55% predictedbullish, 26%bearish, and the remainder is neutral.

Although the majority of market participants providebullish outlook, but the number participating in this survey is the lowest since May 2019.

The following is an update on the price of Antam’s gold bullion in other denominations, quoted from the pagemetalmulia.com, Monday (13/9/2021):

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This is Antam's 24 Karat Gold News today 3

Price of 0.5 gram gold bullion: IDR 514,500

Price of 1 gram gold bullion: IDR 929.000

Price of 2 gram gold bullion: IDR 1,798,000

Price of 3 gram gold bullion: IDR 2,672,000

Price of 5 gram gold bullion: IDR 4,420,000

Price of 10 gram gold bullion: IDR 8,785,000

Price of 25 gram gold bullion: IDR 21,837,000

Price of 50 gram gold bullion: Rp 43,595,000

Price of 100 gram gold bullion: IDR 87,112,000

Price of 250 gram gold bullion: IDR 217.515.000

Price of 500 gram gold bullion: Rp 434,820,000

Price of 1,000 gram gold bullion: IDR 869,600,000