Antam Gold Price Falls by Rp20,000 but Holds Above Rp2.7 Million per Gram

The price of Antam gold bullion fell again during trading on Wednesday (10/6). According to an update on the official Logam Mulia website, Antam gold is now priced at Rp2,713,000 per gram. Today’s Antam gold price decreased by Rp20,000 compared to the previous price level of Rp2,733,000 per gram. Despite the correction, the precious metal produced by PT Aneka Tambang Tbk remains above the Rp2.7 million per gram level. The price decline also affected Antam Gift Series products, which were sold for Rp2,863,000 per gram today. The prices listed on the official Logam Mulia website do not include a 0.25 per cent Income Tax (PPh). With the additional tax, the price of 1 gram of Antam gold becomes approximately Rp2,719,783 per gram. Although gold prices are experiencing a decline, public interest in buying the precious metal is still considered quite high. An employee of a gold shop in the Nagoya area of Batam said the price correction actually creates momentum for some people to increase their gold investment. ‘The gold price has indeed fallen by around Rp20,000 per gram today, but it is still at quite a high level. Usually, consumers who come are more focused on long-term investment, so they are not overly affected by daily declines,’ said Epi, an employee at Toko Emas Putri, on Wednesday (10/6). According to her, gold purchase transactions in Batam have remained relatively stable over the past few weeks. Some buyers are taking advantage of the price decline momentum to buy or add to their gold bullion collections. ‘When the price falls, there are usually consumers who see this as an opportunity to buy. However, the majority still look at long-term price trends, rather than one or two day movements,’ she said. She added that gold remains one of the investment instruments favoured by the public because it is considered capable of preserving asset value amid global economic uncertainty. ‘So far, demand is still quite good, especially for small denominations like 1 gram, 5 grams, and 10 grams because they are more affordable for the public,’ she added. Meanwhile, based on Pegadaian data on Wednesday morning, the price of Galeri 24 gold was recorded at Rp2,701,000 per gram, while UBS gold was sold for Rp2,721,000 per gram. For Antam gold products marketed through Pegadaian, the selling price reached Rp2,822,000 per gram, higher than the price listed on the official Logam Mulia website. For people who want to invest in small denominations, 0.5 gram Antam gold was sold today for Rp1,406,500. The 5 gram size was priced at Rp13,340,000 and the 10 gram size at Rp26,625,000.