On Thursday the price of gold skyrocketed sharply. This is due to inflation concerns that make investors look for safe assets. Even gold prices are getting more expensive when US retail data is in a positive trend.

Then gold for December delivery on the Comex division of the New York Exchange rose 0.87% or 16.1 US dollars and closed at 1,870.20 dollars per ounce. Then on the spot market, gold also strengthened by 0.90% and became US$1,856.66.

Previously, the price of gold had weakened 0.67% or at 12.5 US dollars and became 1,854.10 US dollars. Whereas in early trading, the price of gold also fell 0.1% or 1.9 US dollars and became 1,866.60 US dollars. At the end of last week's trading, gold prices rose 0.25% or US$4.6.

According to the director of metals trading at High Ridge Futures, David Meger said if market inflationary pressures are supporting the movement of gold and silver. In addition, the US dollar also competes with gold as a safe place to store asset value.

Shortly, if the Fed chair reduces asset purchases, it can be accelerated as a counter-inflation or if the market believes that interest rates will rise faster, then gold prices will decline.

Reduction of Gold Stock and Inflation

Can even be under mild stress. Because with increasing interest rates, the chances of losses holding gold without interest are also getting stronger. This month, the Fed began to reduce its bond purchases gradually. Then it hopes to be able to end the purchase in mid-2022.

Rising energy costs are one of the main reasons for most of the price increases. This should also be a concern from other countries. Meanwhile, the price of silver for delivery in December also increased.

Based on the latest forex news, silver prices rose 0.89% or 22.3 cents and closed at 25.167 US dollars per ounce. Then platinum for January delivery weakened at 0.5% or 5.4 dollars and closed at 1,069.10 US dollars.

Based on Antam's official metal website, the gold price per day rose by Rp 8,000 to Rp 956,000. Whereas previously, Antam's gold price had weakened on Wednesday.

Gold futures edged down 0.09% to $1,868.60 by 23:38 ET (4:38 GMT) after climbing to a record high in more than five months on Wednesday. The dollar, which normally moves inversely to gold, edged lower on Thursday but remained near a 16-month high.

Previously, Antam's gold price at the smallest size was sold at Rp 524,000. While the size of 1 gram, sold for Rp. 948,000. However, entering the trading session on Thursday, the price of gold rose sharply by Rp. 8,000. Thus, the current gold price is Rp 956,000.

Antam's Gold Price Movement

The increase did not only occur in Antam's gold price. But also, with the buyback price or the price when the gold owner wants to sell the gold. Like Antam's gold price, the buyback price also increased by Rp 8,000 to Rp 854,000.

Then based on today's forex news, there is a rule following PMK No 34/PMK.10/2017 that every purchase of 24 karat gold Antam will be subject to income tax of 0.9%. But if you want to get a lighter income tax deduction.

Then just include your TIN in every transaction, so you will get a discount of 0.45%. Antam's gold price is the price at Antam's Pulogadung office, Jakarta. Then with sales in other outlets, the possibility has a different price.

In addition, every purchase of Antam's gold will be accompanied by proof of income tax deductions 22. So that evidence can be included for future buybacks.

Benchmark U.S. 10-year Treasury yields denote modest gains on weekday however force back from three-week highs throughout the previous session. The 20-year bond auction was also disappointing.