Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Thursday (13/6/2024) at the LM Graha Dipta Pulo Gadung gold boutique was recorded to have fallen by IDR 8,000 to IDR 1,333,000 per gram.
Likewise for price buyback (the price used when reselling gold) fell by IDR 8,000 to IDR 1,214,000 per gram.
Following are the details of Antam's gold price today, Friday 14 June 2024:
The decline in Antam gold is in line with world gold prices which slipped yesterday, Thursday (13/6/2024)
According to Refinitiv data, the rupiah in yesterday's trading ended weakening 0.83% to US$ 2,303.18 per troy ounce. This is a weakening that occurred after three consecutive days of strengthening.
Then today, Friday (14/6/2024), world gold prices are still likely to be corrected, around 0.05% at US$ 2,302.37 per troy ounce.
Gold prices slipped after producer inflation data came out which unexpectedly sloped better than expectations. This is likely to persuade the Federal Reserve to take a more dovish stance.
Producer prices unexpectedly fell 0.2% in May, marking a sharp reversal from April's 0.5% rise and contrary to analysts' expectations of a 0.1% rise.
Year-over-year, the Labor Department's Producer Price Index (PPI), which tracks the prices U.S. companies get for their goods and services in factories, rose 2.2%.
This figure is very far from the Fed's average annual inflation target of 2%.
Excluding volatility in food, energy and trade services, the so-called “core” PPI was unchanged through April and remained at 3.2% on an annualized basis.
The report comes after a cooler-than-expected CPI report released on Wednesday and the Fed's dot plot, which lowered expectations for interest rate cuts this year from three to one.
CNBC INDONESIA RESEARCH
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