Antam's Gold Fades: It Was IDR1.06 Million Per Gram In 2020, Now It Has Dropped 13 Percent

Illustration. (Photo: Doc. Antam)

JAKARTA - Today, Monday, March 1, 2021, the price of gold from PT Aneka Tambang Tbk (Antam) is in a stronger position compared to last week. Antam's gold, according to the logammulia.com site, the price of 1 gram of gold rose 0.65 percent to IDR 923.000 per bar.

For information, last Saturday, Antam's gold was at the level of IDR 917.000 per stick. This value is the lowest level since July 21, 2020, and when compared to the position at the end of 2020, Antam's gold price has fallen 4.35 percent.

In fact, Antam's gold price has fallen from the most expensive record in history, namely on August 7, 2020, which reached IDR 1.065.000 per stick. This means that to date, Antam's gold price has fallen by 13.33 percent.

The decline in Antam's gold price is presumably due to the decline in world gold prices. The factor of the drop in Antam's gold was also influenced by the rupiah exchange rate and supply and demand in the market.

Of course, since reaching a record USD 2.072.49 US dollars per troy ounce on August 7, world gold prices have fallen more than 16 percent in trading last Friday, February 26.

In fact, the main 'gasoline' driving force for rising gold prices, namely the Fed has not changed its policy, in which the 0.25 percent interest rate will still be maintained until 2023. In addition, the United States government under 46th President Joseph 'Joe' Biden, also plans to provide fiscal stimulus worth USD 1.9 trillion, which is likely to be disbursed in the near future.