Following the trend from the previous day, today, Thursday, July 11, 2024, global gold prices have risen by 0.07% to USD 2,372.65 per troy ounce.

On Wednesday, gold prices closed up 0.31% at USD 2,370.93 per troy ounce, compared to the previous opening at USD 2,364.98 per troy ounce.

The consecutive rise in global gold prices is driven by market optimism regarding the Federal Reserve’s anticipated interest rate cut in September.

Additionally, U.S. inflation data will be announced today, which will be a crucial indicator for investors in making investment and monetary decisions.

Jim Wyckoff, a senior market analyst, commented that Powell’s recent speech did not present any substantial news regarding the interest rate cut, leading the market to await a definitive decision from the Fed.

On Tuesday, July 9, 2024, Jerome Powell, Chairman of the Fed, delivered a speech at the U.S. Senate Committee on Banking, Housing, and Urban Affairs meeting.

In his speech, Powell indicated that high interest rates have hindered U.S. economic growth. However, he expressed a desire to see better data before considering policy easing.

Gold Prices Today in Indonesia

Today, Wednesday, July 11, 2024, Antam gold prices in Indonesia have mirrored the global gold price trend with an increase of IDR 6,000 from IDR 1,380,000 per gram to IDR 1,386,000 per gram.

After experiencing a decline for two consecutive days totaling IDR 16,000, Antam gold prices in Indonesia have strengthened today.

The increase in Antam’s buyback price is also noted, rising IDR 5,000 from IDR 1,245,000 per gram to IDR 1,250,000 per gram.

This rise in gold prices may be due to the reduced buyback prices, presenting an opportunity for investors to add to their gold assets. Increased demand for gold has contributed to the price surge.

Alongside the rise in global gold prices and Antam gold prices in Indonesia, Treasury’s gold buyback price has also increased by IDR 1,000.

On Wednesday, July 10, 2024, Treasury’s gold buyback price was significantly higher at IDR 1,283,312 per gram. Today, it stands at IDR 1,284,903 per gram.

Treasury’s buyback price has also risen by IDR 4,000 from IDR 1,238,812 per gram to IDR 1,242,225 per gram.

Future Gold Price Predictions

This week, several key data releases are highly anticipated by the market to gauge the Fed’s policy direction regarding interest rate cuts.

In line with Powell’s statement that more data is needed to solidify the possibility of an interest rate cut, today’s U.S. inflation announcement will be a primary focus and a crucial benchmark for future monetary policy.

Additionally, U.S. Consumer Price Index (CPI) data, expected to decrease by 0.2% from the previous month, will be released on Thursday.

On Friday, a Producer Price Index (PPI) report will be released. So far, these data have indicated positive news for inflation since the beginning of the year.

According to Wyckoff, if the data released this week supports a favorable inflation trend and approaches the expected target, gold prices are likely to continue strengthening.

Time to Invest in Gold, Starting from Just IDR 5,000

Daily fluctuations in gold prices should not worry you. Over time, gold prices generally rise each year. Gold is ideally used for medium- to long-term investments.

So, don’t hesitate to start investing in gold. Now, you can buy gold easily and affordably, starting from IDR 5,000 with Treasury!

Treasury is the first digital physical gold trader licensed by BAPPEBTI. Digital transactions are secure, as Treasury is registered with KOMINFO and partnered with ICH to ensure transaction security.

Treasury is also a member of ICDX, a clearing and futures exchange institution supervised by BAPPEBTI. Therefore, you need not worry about the legality and security of investing in gold with Treasury.

Furthermore, Treasury offers various attractive features such as Jamimas (gold loans), Panen Emas with interest rates up to 9% p.a., FREE gold storage and transfer, and many other special promotions and rewards.

Even though you save gold digitally, you can still convert your gold savings into physical gold, coins, or jewelry, as Treasury also collaborates with PT. Antam and UBS.

What are you waiting for? Start your gold investment now for better financial stability today and in the future!