Gold prices of PT Aneka Tambang (Antam) Tbk., known for its Antam gold, saw a slight increase in trading on Tuesday (12/3/2024).
According to data from PT Antam's official website, logammulia.com, at the LM Graha Dipta Pulo Gadung gold boutique, the price of gold per gram today was set at Rp 1,210,000/batang, up Rp 2,000 per gram from yesterday's price (11/3/2024).
Similarly, the buyback price of Antam gold was set at Rp 1,103,000 per gram, up Rp 2,000 from the previous trading session.
This relatively stagnant global gold price occurs amidst a wait-and-see approach from market participants regarding the release of US inflation data tonight.
Inflation is expected to remain stagnant at a level of 3.1% year on year (yoy) in February 2024, while core inflation is expected to ease to 3.7% yoy, down 0.2 percentage points from the previous period.
Furthermore, central bank purchases also support the rise in gold prices. Reflecting bullish sentiment, COMEX gold speculators increased their net buy positions by 63,018 contracts to 131,060 in the week ending March 5, according to data released last Friday.
The slight uptick in Antam gold prices amidst cautious market sentiment underscores the ongoing dynamics of the gold market, influenced by various factors including inflation data releases and speculative activity. Investors and traders continue to monitor these developments closely as they navigate the volatility of the gold market.