Tuesday, 05 June, 2012 | 16:21 WIB
Gold Prices in Jakarta Soar Following International Increase
TEMPO Interactive, Sydney:Gold prices on Asian markets continued to increase to US$1,626 per troy ounce on Monday afternoon. The increase in risk-avoiding measures taken by investors and the emerging expectations over assets purchased by the US central bank have boosted the price of precious metals by US$58.1, or 3.72 percent to of US$1,621.4 per troy ounce on the New York Mercantile Exchange (NYMEX) last week.
With the exchange rates assumption of Rp9,400 per US dollar and 31.04 gram per troy ounce, gold was traded on the NYMEX at Rp491,000 per gram by the close of Friday trade.
The soaring price of gold on the international market and the weakening of rupiah exchange rates against US dollar, which reached Rp9,400 per US dollar, have brought good fortune to domestic gold prices.
Gold in Jakarta on Monday, according to logammulia.com, was traded at Rp8,000 or 1.5 percent higher at Rp543,000 per gram compared to Friday prices. Furthermore, buying prices were set at Rp483,000 per gram.
MARKETWATCH / VIVA B. KUSNANDAR