Jakarta – International gold prices rose slightly in trading on Friday, May 24, 2024, but are heading for their first weekly decline in three weeks. This happened because investors reduced their expectations of interest rate increases in the United States. Plans to cut interest rates following the recent Federal Reserve meeting indicate a delay in easing monetary policy.
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Report The economic times, gold prices rose 0.2 percent to $2,332.14 in morning trading in London. Gold is down 3.4 percent so far this week, hitting a record high of 2,449.89 on Monday. Meanwhile, US gold futures fell 0.2 percent today to $2,333.70.
Federal Reserve officials said that based on minutes from the U.S. central bank’s April 30-May 1 meeting, it will take longer than expected to gain more confidence that inflation will reach 2 percent.
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Businesses around the world enjoyed an improvement in activity this month as activity picked up in the United States and across Asia and Europe, allowing central banks to delay interest rate cuts.
Gold projects are known as inflation hedges, but higher interest rates increase the opportunity cost of holding gold.
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A consumer shows off the gold he bought at Precious Metal Gold Shop, Aneka Tambang Building, Jakarta.
- AMONG THE PHOTOS/Sigid Kurniavan
The price of gold traded during the morning at PT Aneka Tambang Tbk (Antam) was $1,325,000 per gram. The price has decreased by IDR 20,000 compared to yesterday’s trading.
Extract from Antam’s Precious Metals Processing and Processing Business Unit, Buyback Price or repurchase Gold is set at IDR 1,211,000 per gram. The price has dropped by 23,000 rupees compared to yesterday.
The price of gold is determined by volume, that is, five grams sold at IDR 6.4 million, 10 grams at IDR 12.74 million, 25 grams at IDR 31.73 million and 50 grams at IDR 63.39 million IDR.
Next, 100 grams of gold is worth IDR 126.71 million, 250 grams of gold is worth IDR 316.51 million and 500 grams of gold is worth 632 million 820 million dollars. Furthermore, for the smallest and largest size of gold that Antam sold today, that is, 0.5 grams for IDR 712.5 thousand and 1,000 grams for IDR 1,265.6 million.
For your information, the selling price of Antam gold does not include taxes. Gold sizes of 2 grams, 3 grams, 10 grams, 25 grams, 250 grams and 500 grams are not available today at Pulo Gadung Metal Mulia Gold Shop.
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The price of gold traded during the morning at PT Aneka Tambang Tbk (Antam) was $1,325,000 per gram. The price has decreased by IDR 20,000 compared to yesterday’s trading.
