Rising! Gold Price of IDR 1.6 Million per Gram?

BANDAR LAMPUNG, RADARLAMPUNG.CO.ID - The price of gold per gram in 2023 is predicted to reach IDR 1.5 million to IDR 1.6 million. This is directly proportional to the belief that gold is a safety asset during a recession.

"It will increase significantly; the price of gold this year will be around IDR 1.5 million to IDR 1.6 million per gram." "We will enter the gold phase as a safety asset during a recession," said Director of the Center of Economics and Law Studies (Celios), Bhima Yudhistira, as quoted by Antara. JawaPos.com, Sunday, January 8, 2023.

Bhima Yudhistira explained a number of factors triggering the increase in gold prices this year. Among them are high inflation and a lack of gold reserves in the short term, which function to reduce prices.

"The factor of high inflation accompanied by reduced employment opportunities, commonly known as stagflation, will spur investors to buy gold in large quantities," said Bhima Yudhistira.

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Furthermore, according to continued Bhima Yudhistira, several countries are spurring the issuance of gold banks or bullion banks, including Indonesia, which is stipulated in the Financial Sector Development and Strengthening Act (UU PPSK).

This means that gold will become an attractive commodity with a wider audience.

Then, as developed countries' monetary policies tightened, gold became a hedge against rising interest rate risks.

"Fourth, no proven gold reserves have been found in the short term, so the outlook for gold supply will not dampen price increases," he said.

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It is known that the price of Antam's certified gold bar, produced by Logam Mulia PT Aneka Tambang Tbk (ANTM), has skyrocketed by IDR 10,000 per gram on weekend trading since Saturday, January 7, 2023.

Referring to Antam's official website, the price of one gram of gold bars is priced at IDR 1,032,000, an increase from the previous day, which was at IDR 1,022,000 per gram.

Still on Antam's official website, an increase has also occurred in the buyback price of IDR 15,000 to IDR 940,000 per gram from IDR 925,000 per gram on Friday, January 6, 2023.

Even so, Antam ensures that the gold buyback price follows the movement of world gold prices.

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