Home » Gold
Tag:

Gold

Business

Midday update for gold 06-22-2021

by archyw

Gold price resumes its negative trading to approach the 1770.00 level, motivated by the negativity of the stochastic indicator, waiting to break this level to confirm the continuation of the bearish wave towards 1734.10, which represents our next target, to keep our expectations for the bearish trend for today unless the price rushes to breach the level of 1800.00 and hold above it.

The expected trading range for today is between the support 1765.00 and the resistance 1800.00

The forecast general trend for today: Bearish

.

0 comment
0 FacebookTwitterEmail
Business

Gold prices in Egypt are down 43 pounds in a week… What happened?

by archyw

04:38 PM

Friday, June 18, 2021

I wrote – Shaima Hefzy:

Gold prices in Egypt fell by 43 pounds in a week, despite the consolidation of prices during Friday’s trading.

Naguib, former Secretary of the Gold Division of the Cairo Chamber of Commerce, told Masrawy that the price of a gram of 21 carat gold fell today, Friday, by 768 pounds, compared to 811 last Friday.

And 18 karat gold scored about 658.3 pounds per gram, 24 karat about 877.7 pounds, and the gold pound about 6144 pounds.

Globally, gold is heading towards recording its worst weekly performance since March 2020 after the US Federal Reserve’s shift towards a monetary tightening tone caused the dollar to rise, and negatively affected the attractiveness of the yellow metal.

According to CNBC data, global gold prices are down 5% per week.

The US Federal Reserve indicated that it will consider reducing its asset purchase program at each meeting it holds, and has brought forward expectations of the first post-pandemic interest rate increases to 2023, which caused the collapse of gold prices as a safe haven.

After the monetary tightening comments from the Federal Reserve, the dollar jumped to a two-month high and is heading for its best week in nearly nine months.

Although gold is seen as a hedge against inflation, higher interest rates will reduce its attractiveness as it means that the opportunity cost of holding it will increase.

.

0 comment
0 FacebookTwitterEmail
Business

5 information about the significant decline in gold prices globally and locally

by archyw

During the past two days, we have witnessed a significant decline in the price of gold at the global level and in the Egyptian market, in clear proportions, and this may affect the volume of buying and selling during the next few days, and we provide the most important information about the decline of gold.

Global gold prices fell by nearly 3%.

An ounce of gold increased from 1860 dollars to 1780 dollars at the time of writing these lines.

The US Federal Reserve’s announcement of its intention to raise interest rates by 2023 caused the drop.

Gold fell in Egypt more than 20 pounds, with expectations of further decline

Experts believe that the market may fall further due to the massive selling in the markets.

The US Federal Reserve had stressed its pledge to wait for “more significant progress” before starting to switch to policies less linked to the pandemic and to wait more until the economy fully opened.

.

0 comment
0 FacebookTwitterEmail
Business

Antam (ANTM) who again stumbled upon an unpleasant issue

by archyw

Bisnis.com, JAKARTA – In the midst of the sluggish gold price, which is the company’s main commodity, PT Aneka Tambang Tbk. (ANTM) was hit by bad news again.

Meanwhile, ANTM was mentioned as one of the gold companies that carried out embezzlement practices related to gold imports involving the Directorate General of Customs, Ministry of Finance.

ANTM is suspected of embezzling gold imports equivalent to Rp47.1 trillion. The gold imported by ANTM was allegedly exchanged for its HS Code to avoid import duties and import PPh.

The case was initially brought to the fore by member of Commission III of the DPR RI, Arteria Dahlan, in a working meeting with the Attorney General’s Office on Monday (14/6/2021).

He said that there were importers and Soekarno-Hatta Customs and Excise officials who made efforts to avoid import duties by falsifying the HS code for gold bars as lumps of gold which were indeed exempt from import duties.

“We import all this gold from Singapore, there are differences in export reports from officers in Singapore to Customs. From Singapore, it is correct, the HS is 71081300, meaning the gold code is semi-finished. In Indonesia, these goods are subject to a 5 percent import duty and 2.5 percent import income tax. However, when they arrived at Soetta, the code had changed when it was recorded in the import document notification. The bars and labels of gold are reported as lumps. The code is recorded as 71081210, which means gold nugget,” said Arteria.

.

0 comment
0 FacebookTwitterEmail
Business

Crying Mothers! Today’s Gold Price Drops Drastically, Antam’s Precious Metal is Bloody!

by archyw

WE Online, Jakarta –

Today’s gold price fell drastically, where Antam’s precious metal fell sharply to tens of thousands of rupiah in a day. Referring to the official metalmulia.com website, Antam’s gold price fell by Rp. 12,000 from Rp. 940,000 per gram to Rp. 928,000 per gram on Thursday, June 17, 2021.

The sharp correction made the price of Antam’s smallest 0.5 gram gold price drop to Rp514,000. Meanwhile, Antam’s gold price of 2 grams and 3 grams per day is priced at Rp. 1,796,000 and Rp. 2,669,000, respectively. Also Read: The Fate of Gold Prices Today, June 17, 2021: It’s Getting Worse!

Also Read: There’s Still A Chance! Fresh Funds of Hundreds of Billions of Rupiah from Mitra Keluarga Hospital in Front of Your Eyes!

If you want to know more, see the list of Antam’s gold prices as of Thursday, June 17, 2021, below.

1 gram Rp928.000

2 gram Rp1.796.000

3 grams Rp2,669,000

5 grams Rp4.415,000

10 grams Rp8,775,000

25 gram Rp21.812.000

50 grams Rp43,545,000

100 grams Rp87.012.000

250 gram Rp217.265.000

500 grams Rp434.320.000

1,000 grams Rp868,600,000

In fact, the Ministry of Communication and Information noted that there were around 1,387 hoaxes circulating in the midst of the Covid-19 pandemic during the period March 2020 to January 2021. Erase hoaxes with #Baca SampaiTuntas

.

0 comment
0 FacebookTwitterEmail
Business

Nyungsep 3 Days, Get Ready Tomorrow Antam’s Gold Price ‘Explodes’!

by archyw

Jakarta, CNBC Indonesia – Ahead of the announcement of the monetary policy of the United States (US) central bank on Thursday morning Indonesian time, world gold prices continued to decline.

As a result, Antam’s gold price has followed, from Monday to today, Wednesday (16/6/2021) continues to decline. On Thursday, Antam’s gold price has the potential to “explode” or experience a big movement, whether it’s rising or falling.

The price of gold bullion produced by PT Aneka Tambang (Antam) Tbk. for units of 1 gram today decreased by 0.32% compared to yesterday’s price of Rp. 940,000/stem.

PT Antam sells gold bars from 0.5 grams to 1,000 grams. The unit that is usually used as a reference, 100 grams, is currently selling for Rp. 88,212,000/stem or Rp. 882,120/gram, down 0.34%.

Gold bar Price per Rod Price per Gram
0,5 Gram IDR 520,000 IDR 1,040,000
1 Gram IDR 940,000 IDR 940,000
2 Gram IDR 1,820,000 IDR 910,000
3 Gram IDR 2,705,000 Rp 901,667
5 Gram IDR 4,475,000 IDR 895,000
10 Gram IDR 8,895,000 IDR 889,500
25 Gram IDR 22,112,000 Rp 884,480
50 Gram IDR 44,145,000 IDR 882.900
100 Gram IDR 88,212,000 Rp 882,120
250 Gram IDR 220,265,000 Rp 881.060
500 Gram IDR 440,320,000 Rp 880,640
1000 Gram Rp 880.600.000 IDR 880,600

The world gold price on Tuesday’s trading fell 0.39% to US$ 1,858.69% and this morning it fell again by more than 0.2%. World gold trade is still long, until Thursday morning tomorrow after the US central bank (The Fed) announced monetary policy.

Thus, the gold price will experience a large movement and have an impact on Antam’s gold price tomorrow.

The market is currently still confused, whether the Fed will do tapering in the near future because inflation has shot up in the US, or is still maintaining its attitude that considers tapering still too early.

Tapering can cause turmoil in global financial markets called taper tantrum.

One of the top investors, Paul Tudor Jones, gave his views on what to do in response to the Fed’s announcement. Jones is one of the investors included in the book Market Wizard or “Market Wizard” by Jack Schwager.

The Fed has previously stated that high inflation is only temporary, to the “market wizard” it doesn’t make sense.

“Inflation that is said to be temporary is not what I see it. I am worried that inflation is said to be temporary when supply is low and demand is high,” said Jones as reported by Kitco Monday (14/6/2021).

According to the founder of Tudor Investment, if the Fed once again ignores high inflation in the US, it will buy up commodities, cryptocurrencies and gold.
“If the Fed says ‘we are on the right track, all is well’, then I will go all in for inflation-supported assets. I will probably buy commodities, cryptocurrencies and gold,” added Jones.

This means that the gold price is likely to go up if what Jones said happens, and Antam’s gold price will also be pushed up.

However, Jones also warned of impending taper tantrum if the Fed no longer says high inflation is temporary.

“If they say ‘we’ve got the data, we’ve reached our goal, or we’re on a very fast track to reach our target’ full employment, then you will face taper tantrum. You will see a sell-off in assets fixed income, as well as the stock market will experience a correction,” said Jones.

Taper tantrum is bad news for gold. Once happened in 2013, the price of gold at that time fell by 45% from its record high. Bad news for Antam gold too.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(pap / pap)


.

0 comment
0 FacebookTwitterEmail
Business

Gold prices today, Tuesday 15-6-2021 in Egypt

by archyw

We publish the latest developments in gold prices in Egypt today, Tuesday, June 15, 2021, as the price of 21 karat gold, which is the best seller in Egypt, reached 800 pounds per gram, while an ounce of gold recorded a price of 1865 dollars at the time of drafting the report.

The recorded prices of gold globally recorded $ 1865 per ounce, after falling from the levels of $ 1890 during the past 24 hours due to the rise of the US dollar, and expectations indicate changes in gold prices in the coming hours, while the markets await a number of important economic events.

Gold prices today:

Carat 18 recorded 686 pounds.

21 caliber record 800 pounds.

24 carat record 915 pounds.

The gold pound is 6400 pounds.

An ounce of gold is $1,865.

Globally, gold prices rose on Tuesday, June 15 in limited, as the dollar’s decline caused the cost of the yellow metal to decline for holders of the rest of the currencies, while investors are awaiting the outcome of the US Federal Reserve meeting to elicit indications about the unprecedented monetary stimulus path.

As for other precious metals, silver fell 0.5% to $ 27.71 an ounce, palladium rose 0.2% to $ 2756.68, while platinum fell 0.3% to $ 1161.

.

0 comment
0 FacebookTwitterEmail
Business

World Gold Has Collapsed, Check Antam’s Gold Price Today

by archyw

Jakarta, CNBC Indonesia – The world gold price fell 1.7% in yesterday’s trading, which risks causing Antam’s gold price to plummet as well. Luckily, world gold was able to cut this weakness so that Antam’s gold price did not experience a sharp decline.

On Tuesday (15/6/2021), Antam’s 1 gram gold price fell 0.21% to Rp 943,000/bar, based on data from logammulia.com, the official website of PT Aneka Tambang (Antam) Tbk.

PT Antam sells gold bars from 0.5 grams to 1,000 grams. The unit that is usually used as a reference, 100 grams, today fell 0.23% to Rp 88,512,000/stem or Rp 885,120/gram.

Gold bar Price per Rod Price per Gram
0,5 Gram IDR 521,500 Rp 1,043,000
1 Gram IDR 943,000 IDR 943,000
2 Gram IDR 1.826.00082 IDR 913,000
3 Gram IDR 2,714,000 Rp 904.667
5 Gram IDR 4,490,000 Rp 898.000
10 Gram IDR 8,925,000 IDR 892,500
25 Gram IDR 22,187,000 Rp 887.480
50 Gram Rp 44,295,000 Rp 885.900
100 Gram IDR 88,512,000 Rp 885.120
250 Gram Rp 221,015,000 Rp 884,060
500 Gram Rp 441.820.000 IDR 883,640
1000 Gram Rp 883.600.000 IDR 883,600

Yesterday’s world gold price ended trading at US$ 1,865.99/troy ounce or 0.57% lower, after previously falling to US$ 1,843.99/troy ounce, the lowest level in the last month.

In trading last Friday, world gold prices also fell 1.13%. The poor performance of world gold in the last two days occurred due to market participants anticipating the possibility of the United States (US) central bank or the Fed giving signals tapering.

Tapering or reduction in asset purchase value (quantitative easing/QE) The Fed is gold’s “main enemy” at the moment. This policy is carried out by capital flows from emerging market countries and returning to Uncle Sam’s country.

This can trigger turmoil in financial markets called taper tantrum. When that happened, the US dollar became mighty, and the world gold price, which was priced in Uncle Sam’s currency, took a hit.

Taper tantrum never happened in the period 2013 to 2015. At that time the price of gold collapsed by more than 45% from its record high reached in September 2011.

Survey results from Reuters of 50 economists indicate as much as 26% expect the Fed to announce tapering in August at the Jackson Hole meeting. Then 32% predict new announcements will be made in September, and 42% predict after September.

Then, the same survey showed 58% or 26 of 45 economists predicted tapering will begin in the first quarter of 2021.

However, it is not impossible for the Fed to announce tapering faster, or at least stated that they had started discussing tapering. This certainly has a significant impact on financial markets, especially gold.

“We see the risk of continued price declines due to the issue of tapering The Fed is losing its appeal to gold at the same time it’s happening capital outflow from the gold market,” wrote TD Securities analysts as quoted by CNBC International, Monday (14/6/2021).

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(pap / pap)


.

0 comment
0 FacebookTwitterEmail
World

Slovaks are waiting until the last minute to book a holiday. We made a bad name in Europe, says Harbuľák

by archyw

This year’s summer season in Slovakia will be different from last year’s. People book their holiday reservations at the last minute. They are waiting to see what measures will apply.

The total number of overnight stays is likely to be slightly lower than last summer. The question mark hangs over foreign tourists. Slovakia gained a bad name in Europe for the management of the pandemic in the second wave, said the president of the Tourism Association Marek Harbuľák.

​The desire to travel

According to Harbuľák, after the first wave last year, people felt more optimistic and eager to travel.

“However, the second wave and the measures and restrictions we faced from October to May this year had a much worse impact and also changed consumer behavior.” he noted that people are waiting with a holiday reservation until the last minute. They want to know what measures will apply in a given region at the moment.

Although the situation is improving, there are more restrictions compared to last summer. According to Harbuľák, this also partially reduces the interest in tourism services.

“Nevertheless, we believe that we will gain the trust of domestic tourists, but the total number of overnight stays will probably be slightly lower than last summer. The reason is probably the trend of shortening the holiday,” stated.

A big question mark hangs over foreign tourists, especially from traditional countries, which are neighboring the Czech Republic, Poland, Hungary, Austria, but also Germany.

“The bad name we gained in Europe during the second wave for pandemic management, as well as the low vaccination rate, will also be reflected in the reduced interest of tourists in holidays in Slovakia,” noted the president of ZCR.

According to him, the hotels are ready for the season and are ready to provide all services under the conditions set out in the measures and regulations.

There is also a growing interest in caravans

He explained that reservations are gradually increasing, but holidaymakers are literally coming according to how the COVID map in Slovakia is announced or updated. Further improvement of the situation is expected, therefore early planning of holidays is recommended.

According to Harbuľák, hotels and resorts with the so-called full service services. “This means that in addition to accommodation, full board they offer swimming pools, attractions, wellness, massages, but also services for the little ones, that is, animation services and the like,” specified.

As a result of the pandemic, the demand for accommodation in smaller facilities, such as cottages, is also growing, but the interest of domestic tourists in caravans is also growing significantly. “Here we can see probably the highest increase since last year,” added.

He emphasized that the overall situation in Slovakia and neighboring countries should improve. It therefore does not presuppose stricter conditions.

“At the same time, we expect additions and changes to the COVID vending machine that have been announced. However, they should bring more benefits to tourists who are vaccinated, have overcome the disease or have a negative test. Harbuľák pointed out.

He also pointed out that some services will be available only on the condition of a negative test, which will mean an increased demand for testing.

“Today, however, we cannot answer questions for tourists, where they will be able to be tested from July 1 and how much they will pay for it.” he added. According to the president of ZCR, if the capacities are not sufficient and available for tourists, this can cause a significant decrease in interest in holidays.

.

0 comment
0 FacebookTwitterEmail
Business

Beware, Gold Prices Are Predicted To Fall 45% Due To This

by archyw

Jakarta, CNBC Indonesia – World gold prices are under pressure this week. This is due to issues tapering who have not left the financial markets.

Although the world gold price had strengthened on Friday (11/6/2021) above US $ 1,900/troy ounce, today gold fell quite deep.

Reflecting on history, world gold prices could fall by more than 45% as a result of tapering. When world gold prices collapse, domestic prices for precious metals such as Antam’s gold also decline.

Tapering is a policy of reducing the value of the asset purchase program (quantitative easing/QE) the US central bank (The Fed). When this is done, the flow of capital will leave the country emerging market and return to Uncle Sam’s country.

This can trigger turmoil in financial markets called taper tantrum. When that happened, the US dollar became mighty, and the world gold price, which was priced in Uncle Sam’s currency, took a hit.

Taper tantrum occurred in the period 2013-2015. But long before, gold had reacted to the Fed’s monetary policy.

Before pouring out QE due to the coronavirus disease (Covid-19) pandemic since March 2020, the Fed did the same thing during the 2008 global financial crisis. The US central bank implemented QE in 3 stages.

QE 1 began in November 2008. Then QE 2 began in November 2010, and QE 3 in September 2012.

The value also varies, when QE 1 the Fed bought backed securities worth US$ 600 billion. Then QE 2 was also worth US$ 600 billion but this time what was bought was US government bonds (Treasury).

QE 1 and 2 brought gold prices skyrocketed and touched an all-time high at that time of US$ 1,920.3/troy ounce on September 6, 2011. After that, gold prices sharply corrected to US$ 1,600/troy ounce and finally consolidated with the upper limit. in the range of US $ 1,800s/troy ounce, gold has never again approached its record.

QE 3 released by the Fed in September 2012 has not been able to bring world gold prices back to US$ 1,900/troy ounce. It even ended in “catastrophe” for precious metals.

QE 3 is different from the previous two monetary stimulus, this time its nature open-ended. This means that the value is not limited as needed.

At one point when the US economy has recovered then the QE will be discontinued, but previously it was done tapering. QE 3 at that time was worth US$ 85 billion per month.

Even though the QE value is large, the gold price doesn’t really respond because the market knows it will be done tapering that triggers taper tantrum. Sure enough, the Fed, which was then led by Ben Bernanke, issued a discourse tapering in mid-2013 and began reducing QE by US$10 billion per month starting in December, until finally discontinuing in October 2014.

It didn’t stop there, after QE ended there was a discourse of normalization, aka an increase in the Fed’s interest rates. As a result, gold prices continued to decline to the lowest point reached at US$ 1,045.85/troy ounce on December 3, 2015.

This means that, when viewed from the record high in 2011 to the lowest level, the world gold price fell 45.54% within 4 years.

Savior Inflation

Reflecting on 2013, gold prices could also decline this year. But there is one thing that can be a “savior” namely US inflation, where the current figure is rising sharply, much higher than in 2013.

The latest data Thursday showed inflation in the US rose to its highest level since August 2008, in May 2021. Inflation rose 5% compared to the same period last year and was higher than Wall Street’s expectations of 4.7%.

The US Bureau of Labor Statistics said excluding food and energy prices, inflation was 3.8%, the highest in nearly three decades. The surge in used car prices has pushed up inflation.

The sharp increase in inflation has actually been predicted by the Fed, and is said to be temporary. However, if it is sustainable then it can be profitable for gold.

This is because gold has traditionally been considered a hedge against inflation, when inflation is high then demand has the potential to increase and dampen sharp price declines.

[Gambas:Video CNBC]

(boss / boss)


.

0 comment
0 FacebookTwitterEmail
Newer Posts
Older Posts