Prices more Slump, Gold Pursued
The price of gold on international markets this week continues to decline. Conditions that trigger the selling price in Jakarta, also corrected. Based on data on the Comex division of the New York Mercantile Exchange, Wednesday, January 5, 2011, the price of gold for February delivery fell U.S. $ 5.10, to U.S. $ 1,373.17 an ounce.
The highest recorded price of gold at U.S. $ 1385.20 and low of U.S. $ 1,364 per
ounce during the trading session. Meanwhile, according to Kitco index, the spot price of gold fell U.S. $ 8.20.
In the country, based on sites managed by PT Aneka logammulia.com
Tambang Tbk, precious metals prices in the spot market on Thursday, January 6, 2011, reached Rp403 thousand per gram, while the purchase price of Rp387 thousand per gram.
If compared to Tuesday this week, which is at the level of Rp413 thousand per gram, gold price has corrected logammulia.com of Rp10 thousand per gram. Based on data on the site, the lowest price of gold in December 2010 was Rp404 thousand per gram.
In gold shops lathif Chan, Blok M Square, South Jakarta, on Thursday, January 6, 2011, the price levels of 24-karat gold sold Rp410 thousand per gram. In earlier trading, precious metals prices were still above Rp410 thousand per gram.
“The price drop happened since yesterday (Wednesday),” said Denny Defriansyah, Chan lathif gold shop owner, told VIVAnews.com. He said the price decline is the impact of fluctuations in gold prices in international markets. “I can not forecast until when,” he said.
Meanwhile, in the gold shops Kaliem, Melawai area, South Jakarta, the price of gold is still priced quite high, although down from Rp410 thousand Rp 2,000 per gram on Wednesday, becoming Rp408 thousand per gram on Thursday. “Since Lebaran until now the price ranges from Rp 400 thousands per gram,” said Siska, gold shop owners Kaliem.
Investing in gold?
Denny explains the decline in gold prices was responded to a number of consumers with buying gold for long term investment. They hunt for precious metals (gold yield of 24 carat) and jewelry in the form of necklaces, bracelets, or rings. “They’re buying for and then keep it. This is as a strategy to spread investment portfolio,” he said.
He that consumers continue to monitor the development of world gold prices before deciding to buy the precious metal. “Better still wait and see, first, because we can not predict (prices) going forward,” he said.
In his blog, Denny admitted the difficulty predicting the gold price fluctuates significantly. “It’s very difficult for us when to suggest consumers should buy or sell,” he said.
According to Denny, the decision to buy or sell gold depending on the investment objectives, “whether for short-term investments, long term, or simply as an ornament.”
Under it, consumers should buy products jeis gold as needed. If only for jewelry, for example, consumers should buy jewelry with high levels of 22-carat gold. Due to these levels, the jewelry can be designed to attract.
It’s different if consumers are buying gold for investment purposes. “If the goal for investment, it is advisable to buy precious metals or jewelry with high levels of 24-karat gold,” he said.
As is known, world gold prices fell again Wednesday, after a day
previously trimmed to 3.1 percent. The decline in gold prices was triggered by the strengthening U.S. dollar against several major world currencies. The U.S. dollar index rose 1.07 percent to U.S. $ 80.28 on Wednesday. Meanwhile, the euro exchange rate against the U.S. dollar fell 1.12 percent to U.S. $ 1.31 per euro.