Gold Prices Down at RP 10.000 Level Today

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The gold price of PT Aneka Tambang (Persero) or Antam was at the level of Rp1, 011 million this Wednesday (26/8). The price of gold was recorded to have decreased by IDR10 thousand from IDR1,021 million per gram yesterday.

Meanwhile, the buyback price also fell by IDR10 thousand per gram from IDR917 thousand per gram to IDR907 thousand today.

Based on Antam’s data, the selling price of gold is 0.5 grams worth IDR540 thousand, 2 grams IDR 1.98 million, 3 grams IDR 2.94 million, 5 grams IDR 4.88 million, 10 grams IDR 9.7 million, 25 grams IDR 24.13 million , and 50 grams IDR 48, 19 million.

Then, the price of gold measuring 100 grams is worth IDR 96.31 million, 250 grams IDR 240.51 million, 500 grams IDR 480.82 million, and 1 kilogram IDR 961.6 million.

The selling price of gold includes Income Tax (PPh) 22 on gold bullion of 0.45 percent for holders of Taxpayer Identification Number (NPWP). Buyers who do not include a NPWP receive a higher tax discount of 0.9 percent.

In international trade, based on the Commodity Exchange market reference COMEX, the price of gold rose 0.56 percent to US $ 1,933.8 per troy ounce. Likewise, the price of gold in spot trading rose 0.04 percent to US $ 1,928.98 per troy ounce this morning.

Analyst and Head of Research at Monex Investindo Ariston Tjendra said today’s gold price movement was influenced by the pressure sentiment on the US dollar. This is because the US consumer confidence index fell to 84.8 in August 2020. In fact, last July the US consumer confidence index was in the position of 91.7.

“This survey is to the US public regarding the outlook for US economic conditions in the next six months,” he said, Wednesday (26/8)

In addition, the market is still skeptical about the continuation of the US-China trade agreement, because the relations between the two countries have become increasingly tense lately. Ariston predicts that the price of gold in the spot market will accelerate in the range of US $ 1,915 to US $ 1,940 per troy ounce today. “The market is also still waiting for the gathering of high-ranking central bank officials around the world and awaiting a speech from the governor of the Fed maybe on Thursday or Wednesday,” he said.