Antam's gold price has a fantastic reinforcement today (3/7) (Credit : CNBC Indonesia)

Fantastic! Antam's gold price rose Rp. 20,000 because of Trump

Siti Fatimah Adri
Market & Investment
Market Trending
Jul 03, 2019
12369
Antam's gold price has a fantastic reinforcement today (3/7). The strengthening of Antam's gold price even reached more than 3% to reach Rp. 665,000 per gram. This has become the highest record since late August. Based on the Antam's logammulia website today, this price is the value of every gram of Antam gold measuring 100 grams. The price of 100 grams of gold also rose to Rp. 66.5 million from the previous Rp. 64.5 million per stick. Meanwhile, for today's buyback price, it is at Rp. 643,000 per gram.

This increase was caused by the potential trade war between Europe and US and also return of volatile US-China trade relations, after briefly eased at the last G20 summit. This then triggered a skyrocketing global gold price.

Earlier, US President, Donald Trum wanted European countries to stop subsidizing Airbus aircraft manufacturers, which are rivals from Boeing, a US-based aircraft. Trump also made China back to fire because of a statement from the White House saying that Trump wouldn’t remove Huawei's name from the blacklist. In addition, the trade transactions allowed with Huawei turned out to be just sales of components to Huawei by US businessmen, provided they didn’t endanger security.

For your information, price used for Antam gold is the value of 100 gram chip series which is usually used as a market reference. Although in small series such as 0.5 gram and 1 gram, it has already penetrated Rp. 700,000 before. Even so, when the price is high as it is now, the gold trading market players will usually prefer the Antam buyback price because of the difference in selling prices and buying prices.

Source: https://www.cnbcindonesia.com/investment/20190703110732-21-82354/trump-jadi-penyebab-harga-emas-antam-menggila-rp-20000-gram