Antam's gold price rose Rp. 3.500 per gram on Monday (6/24) (Credit : CNBC Indonesia)

New record! Antam's gold price reached Rp. 702,500

Siti Fatimah Adri
Politics & Economic
News Flash Indonesia
Jun 24, 2019
2077
The gold price in Indonesia continues to rise. On Monday (6/24), the gold price of PT Aneka Tambang (Persero) Tbk or Antam rose Rp3,500 per gram to Rp702.5 thousand per gram. Previously, on Saturday (6/22), this precious metals price was around Rp. 699 thousand per gram. Buyback price also rose by Rp3,000 to Rp.631 thousand per gram. Previously, buyback price was at IDR222,000 per gram.

This price increase was due to a rally in gold prices in the global spot market last Friday, which hasn’t stopped since the previous Tuesday. Antam's gold price includes Income Tax (PPh 22) for gold bullion of 0.45 percent for taxpayer identification numbers (NPWP). Whereas for buyers who didn’t include TIN, they get a higher tax deduction of 0.9 percent.

For your information, Antam's gold bars are sold in various sizes, ranging from 0.5 grams to 1,000 grams. The price per gram is different for each size of gold. 100 grams of Antam gold is usually used as a reference for gold transactions in general. Therefore, Antam's gold price at other sales outlets can be different.

Associated with the price of gold in the global spot market, last weekend the price of this precious metal has reached US $ 1,398 per troy ounce, up from US $ 1,387 per troy ounce the previous day. Today, gold prices in the spot market still strengthened by 0.39% to US $ 1,404 per troy ounce.

Quoted from Reuters on Monday (24/6), world gold prices had surpassed US $ 1,400 per ounce on Friday (21/6) before finally falling back. However, the price of the precious metal still held near its highest level in the past six years due to the dovish attitude of the US Central Bank, the Federal Reserve on monetary policy. The increase in world gold prices was also triggered by fears of potential US military attacks on Iran and trade war conflicts.

The gold price in the spot market rose 0.6 percent to US $ 1,396.34 per ounce. While US gold futures edged up 0.2 percent to US $ 1,400.10 per ounce.

Source: https://www.cnbcindonesia.com/investment/20190624120047-21-80156/tembus-rekor-baru-1-gram-emas-antam-dijual-rp-702500