Today, Wednesday (07/17/2024), gold prices have risen to their highest level after opening with a slight positive correction of 0.01%, reaching USD 2,468.63 per troy ounce.Yesterday, Tuesday (07/16/2024), gold prices closed at a historic high of USD 2,468.57 per troy ounce, marking a 1.92% increase.
This significant rise in gold prices this week has been influenced by remarks from Federal Reserve Chairman Jerome Powell on Monday, indicating that U.S. inflation is under control and moving towards the previously set target.
Powell stated that three favorable data points in the second quarter of this year have further convinced the Fed that inflation is moving steadily towards its target.
Powell’s statements have boosted market confidence and optimism regarding a potential interest rate cut by the central bank in September.
An interest rate cut would lower yields, making other investment instruments less attractive and positioning gold, which does not offer yields, as a safe asset for investors.
Today’s Gold Prices in Indonesia
Gold prices in Indonesia are also following the global trend. Today, Wednesday (07/17/2024), the purchase price of Antam gold in Indonesia has increased by IDR 17,000 per gram.
On Tuesday (07/16/2024), the purchase price of Antam gold was IDR 1,403,000 per gram, and it has now risen to IDR 1,420,000 per gram.
Similarly, the selling price or buyback price has also increased significantly by IDR 20,000, from IDR 1,267,000 per gram to IDR 1,287,000 per gram.
Today’s gold purchase price marks a historic high. The gold price has continued to rise this week in line with the global gold price trend.
Aligned with both the Antam gold prices in Indonesia and global gold prices, the purchase price offered by Treasury has also risen by approximately IDR 9,000.
Yesterday, Tuesday (07/16/2024), the purchase price of gold at Treasury closed at IDR 1,324,000 per gram, having risen IDR 13,000 from the opening price on the same day.
Today, Wednesday (07/17/2024), the purchase price of gold at Treasury is listed at IDR 1,333,628 per gram as of 09:00 WIB.
The selling price offered by Treasury is also competitive, rising from IDR 1,268,321 per gram to IDR 1,282,819 per gram.
Future Gold Price Predictions
Gold has shown impressive growth with a 20% increase this year. This surge is partly due to increased demand for gold from various central banks around the world due to large-scale purchases.
Additionally, the recent shooting incident involving U.S. presidential candidate Donald Trump has also contributed to the rise in gold prices this week, reaching an all-time high.
The shooting incident during Trump’s speech led to speculation that Trump’s popularity might increase, causing concerns among investors.
Investors are worried about the U.S. economy if Trump were to be elected as president, leading them to allocate their assets to safer investment instruments like gold.
Moreover, positive news about U.S. inflation has led the Fed to signal potential easing of policy, including interest rate cuts later this year.
These conditions support the continued strength of the gold market, with predictions from CME FedWatch indicating a 90.9% chance of a 25 bps interest rate cut by the Fed in September.
FedWatch also predicts a second rate cut in November, with a 61.6% chance, bringing the total expected rate cuts this year to 50 bps.
Time to Invest in Gold, Starting from Just IDR 5,000
Don’t worry about the daily fluctuations in gold prices. Over time, gold prices generally rise. Gold is ideally used for medium- to long-term investments.
So, don’t hesitate to start investing in gold. Now, you can easily and affordably buy gold starting from IDR 5,000 with Treasury!
Treasury is the first licensed BAPPEBTI digital physical gold trader. Digital transactions are secure, as Treasury is registered with KOMINFO and partners with ICH for clearing and ICDX for exchanges to ensure user transaction safety.
Treasury is also a member of ICDX, a clearing and futures exchange institution supervised by BAPPEBTI. So, you need not worry about the legality and security of investing in gold with Treasury.
Moreover, 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’re saving gold digitally, you can still convert your digital gold savings into physical gold, coins, or jewelry, as Treasury also collaborates with PT. Antam and UBS.
So, what are you waiting for? Start your gold investment now for better financial health now and in the future!
