Gold price today July 12, 2024: Antam breaks the highest record in history

Jakarta – International gold prices weakened in trading on Friday, July 12, 2024, but are on track to post their third consecutive weekly gain. This comes as weaker-than-expected US inflation data raised hopes that the Federal Reserve is likely to start cutting interest rates in September.

Report Economic timesGold prices fell 0.2 percent to $2,408.70 an ounce in morning London trading, up $1.48 or 08.48 WIB. Meanwhile, US gold futures fell 0.3 percent to $2,413.90.

Data on Thursday showed that US consumer prices unexpectedly fell, with the annual increase being the slowest in a year. This is said to bring the Federal Reserve one step closer to cutting interest rates. According to the CME FedWatch tool, the forecast for a US interest rate cut in September is now 93 percent, compared with 70 percent before the data was released.

Low interest rates reduce the opportunity cost of holding junk gold.

native gold

The price of gold, which was traded in the morning at PT Aneka Tambang Tbk (Antam) per gram, was 1 million 399 thousand US dollars. The price per gram increased by IDR 13,000 compared to yesterday’s transaction and became the highest record in history.

Citing data from Antam’s Precious Metals Processing and Processing Business Unit, the gold purchase price per gram is set at IDR 1,265,000. The price increased by IDR 15,000 compared to yesterday’s transaction.

The gold price is based on volume, i.e. five grams sold for IDR 6.77 million, 10 grams for IDR 13.48 million, 25 grams for IDR 33.58 million and 50 grams for IDR 67.09 million.

Thus, 100 grams of gold is worth IDR 134.11 million, 250 grams of gold is worth IDR 335.01 million, and 500 grams of gold is worth USD 669 million 820 million. Furthermore, for the smallest and largest size of gold sold by Antam, namely 0.5 grams for IDR 749.5 thousand and 1,000 grams for IDR 1.339 million.

For your information, the selling price of Antam gold does not include taxes. Today, gold sizes of 5 grams, 10 grams, 50 grams and 250 grams are recorded and are not available at Pulo Gadung Gold Boutique Metal Mulia.

According to PMK No. 34/PMK.10/2017, sales price transactions should be subject to tax deductions. Meanwhile, the resale of gold bars to PT Antam Tbk with a face value of more than IDR 10 million will be PPh 22 of 1.5 percent for NPWP holders and 3 percent for non-NPWP holders. PPh 22 on transactions repurchase is deducted directly from the total cost.