Increasing By IDR 5.000, Antam's Gold Price On Friday, June 17, To IDR 999.000

An employee shows gold pieces at a jewelry store, Tangerang City, Banten. (Photo: ANTARA)

JAKARTA - The largest gold producer in Indonesia, PT Aneka Tambang Tbk or Antam, has released the base price of gold bullion, which is now at Rp. 999,000 per gram in today's trading, Friday, June 17.

Citing the Precious Metals website, Antam's gold price this morning rose 0.50 percent or IDR 5.000 compared to the gold price on Thursday, which sold for IDR 994.000 per gram.

On the other hand, the price of Antam's gold buyback or buyback by Logam Mulia also experienced a price change of IDR 5.000 per gram from IDR 870.000 per gram to IDR 875.000 per gram, an increase of 0.57 percent.

Thus, the difference between the price of gold and the buyback price today is IDR 124.000 per gram.

The following is a complete list of Antam's gold prices ranging from 0.5 gram to one kilogram denominations:

- 0.5 gram gold price: IDR 549.000

- Price of 1 gram of gold: IDR 999.000

- Price of 2 grams of gold: IDR 1.938.000

- Price of 3 grams of gold: IDR 2.882.000

- 5 gram gold price: IDR 4.770.000

- 10 gram gold price: IDR 9.485.000

- Price of 25 grams of gold: IDR 23.582.000

- 50 gram gold price: IDR 47.095.000

- Price of 100 grams of gold: IDR 94.112.000

- 250 gram gold price: IDR 235.015.000

- 500 gram gold price: IDR 469.820.000

- Price of 1.000 grams of gold: IDR 939.600.000

In addition to rising gold prices in the domestic market, gold prices in international markets also surged due to the support of the weakening United States currency as investors responded to the United States Federal Reserve's decision to raise interest rates by 75 basis points the day before.

The 75 basis point increase in interest rates is the largest increase ever made by the Fed since 1994 or the last quarter century.

Fed Chair Jerome Powell said the central bank will deliver another big hike in July.

The most active gold contract for August delivery on the Comex division of the New York Exchange rose 30.3 US dollars, or 1.67 percent, to close at 1.849.9 US dollars per ounce at the end of trading Thursday (Friday morning Indonesian time).