Investors Are Anxious About The Fed's Cut Rate, Antam's Gold Rises Slightly My Money – 2 days ago

Jakarta, CNBC Indonesia – The price of precious metal gold produced by PT Aneka Tambang Tbk on Monday (19/2/2024) at the LM Graha Dipta Pulo Gadung gold boutique rose by IDR 1,000 to IDR 1,125,000.

Likewise with prices buyback (the price used when reselling gold) is at IDR 1,017,000 per gram

Antam's gold strengthened as world gold prices on the spot market soared.

In trading Friday (16/2/2024) the price of gold on the spot market rose 0.45% to US$2,013.1 per troy ounce. However, on a weekly basis it weakened 0.55%.

World gold was leveraged at the weekend as the producer price index for final demand rose 0.3% last month after declining 0.1% in December, according to the Department of Labor's Bureau of Labor Statistics. Economists polled by Reuters had expected the PPI to rise 0.1% after a previously reported 0.2% decline.

On Friday, market expectations were that the Fed would start lowering interest rates in June, with the CME's FedWatch Tool now showing a 69.9% chance of a cut of at least 25 basis points, down from nearly 90% in the previous session.

CNBC Indonesia Research

[Gambas:Video CNBC]

Next Article

Antam's gold price rises, investors can breathe a sigh of relief