Antam Gold Holds Flat as UBS, Pegadaian Prices Slip Again
Rendy Andriyanto
Gotrade Team
Reviewed by Gotrade Internal Analyst
Share this article
Gotrade News - Antam gold prices held flat on Wednesday at Rp2,774,000 per gram while UBS and Galeri 24 bullion slipped at Pegadaian outlets. The move tracked spot gold trading below USD 4,500 per ounce, last quoted at USD 4,484.48, down 0.13 percent.
Stronger-than-expected US labor data reinforced expectations that the Federal Reserve will keep policy rates higher for longer. That backdrop has pressured non-yielding bullion and weighed on US-listed gold miners exposed to spot price swings.
Key Takeaways
Antam selling price unchanged at Rp2,774,000 per gram, with buyback at Rp2,584,000.
UBS 1g at Pegadaian fell Rp13,000 to Rp2,831,000, Galeri 24 dropped Rp22,000 to Rp2,769,000.
Spot gold near USD 4,484 per ounce as resilient US jobs data dims Fed cut bets.
Domestic Dealer Pricing Diverges
According to MetroTV, Antam, the retail bullion arm of state-owned PT Aneka Tambang, kept its selling price flat. The 10-gram bar was listed at Rp27,235,000 and the 100-gram bar at Rp271,612,000.
Antam buybacks above Rp10 million are subject to a 1.5 percent income tax for sellers holding a tax ID. The levy, known locally as PPh 22, applies at the point of resale to the dealer.
Pegadaian, the state-owned pawn operator, cut prices across all three brands it carries. Antam 1g moved to Rp2,885,000 from Rp2,911,000, while Galeri 24 1g eased to Rp2,769,000 from Rp2,791,000.
As reported by MetroTV, UBS 1g at Pegadaian was set at Rp2,831,000, down Rp13,000 on the day. The 100-gram UBS bar was listed at Rp274,907,000 across Pegadaian outlets.
Per Liputan6, Hartadinata Abadi listed 1g at Rp2,658,000 and 100g at Rp260,100,000. Its kilogram bar was quoted at Rp2,594,000,000, reflecting bulk pricing for institutional buyers.
The pullback in spot gold matters for US-listed miners, whose revenue and margins move closely with the underlying metal. Sustained prices below USD 4,500 per ounce compress free cash flow at higher-cost producers.
Investors tracking the move can monitor exposure through the Gold ETF (GLD) and the lower-fee iShares Gold Trust ETF (IAU). Both products hold physical bullion and track spot prices net of fees.
On the equity side, Newmont (NEM), the largest US gold miner, has historically shown high beta to spot moves. A prolonged dip toward USD 4,400 could test consensus margin assumptions for the second half.
Indonesian retail flows tend to follow international cues with a short lag. With three local dealers showing declines and Antam holding the line, domestic buyers may see further cuts if spot weakness persists into the New York session.
Traders are now watching upcoming US data prints for any softening in the labor market. A weaker payrolls reading would revive bets on a Fed cut and likely support both bullion and miner equities.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
