Okay, this time Goldy will continue #RecommendationsGoldy Gold Price Analysis third series. As we know, one of the things that affects the price movement of Gold is USD/IDR. What does that mean? USD/IDR means the position of the USD exchange rate against the IDR. For example, if a few days ago 1 US$ was equivalent to IDR 14,500 and today 14,000s. This means that the USD is weakening and the IDR is strengthening.

As we know global trade tends to use the USD currency as the main medium of exchange, one of which is the world price of Gold. Goldy analyzed a few days ago this week, USD / IDR decreased -0.96%, this is one of the factors in the decline in the price of Treasury Gold this week. So when the USD weakened against the rupiah, the price of gold became cheaper when converted into rupiah which resulted in the price of Treasury Gold decreased on several days this week.

On the other hand, the world Gold price itself decreased by -2.24% followed by the Gold Treasury price by -3.20%. This may be the effect of geopolitical & economic conditions in the United States, market participants prefer other investment instruments than gold for now. Evidenced by the increase in US bond yields to the highest level since February 2020. A survey conducted by Kitco of Wall Street analysts states that 10 out of 14 analysts expect gold prices to remain depressed this week given the wait-and-see trend. Market participants are waiting for the disbursement of the United States fiscal stimulus which will eventually affect market volatility and Gold prices going forward.

In addition, the Covid 19 vaccine issue also affected the movement of Gold prices. Recently, WHO has given permission for emergency use of the AstraZeneca vaccine made by Oxford University, thus expanding world access to vaccines. The global distribution of vaccines is likely to affect the future movement of Gold prices.

Well, how is the analysis of Gold price movements this week? Indeed, reading and predicting market situations is not easy. But you must remember, that #HavingGoldSavings is more profitable as a future investment than in the near future. Keep up the spirit to set aside funds and regularly increase your Gold balance to achieve #MasaKeEmasan!