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Futures Gold Price WeakensJAKARTA, - The price of gold futures traded on the NYMEX closed lower after trading in a couple of days before the price increase. The price of gold closed at 1774.65 U.S. dollars per troy ounce, down 6.15 U.S. dollars.
10/9/12
JAKARTA, - The price of gold futures traded on the NYMEX closed lower after trading in a couple of days before the price increase. The price of gold closed at 1774.65 U.S. dollars per troy ounce, down 6.15 U.S. dollars. Spot gold prices declined to the level of 1766.55 U.S. dollars per troy ounce, the lowest since last October 1, 2012. The decline in gold prices is due to a stronger dollar resulting in lower interest toward gold as an alternative investment vehicle. Dollar rose 0.5 percent against six major rival incorporated in the dollar index. The strengthening of the dollar due to speculation that Spain is struggling to avoid a temporary loan debt continues to accumulate. Market participants are still awaiting the results of a meeting of German Chancellor Angela Merkel with the Greek government to discuss settlement of the crisis in the country. In fact, the decline in gold prices occur before the convening meeting of European finance minister to discuss the debt crisis that has not shown signs of improving. Conditions were predicted to cut the level of demand for raw materials. In the domestic market, the gold price traded in Jakarta Future Exchange (JFX) and the Commodity and Derivatives Exchange Indonesia (ICDX) also decreased. In JFX, gold for delivery in October 2012 closed lower at Rp 6,500 per gram and closed at Rp 553,200 per gram. In ICDX, for October delivery gold futures prices stood at Rp 552,800 per gram or decreased Rp 1,500 per gram. PT Antam, gold prices declined to Rp 1,000 per gram. The price of gold is at a price of Rp 550,000 to Rp 589,200 per gram. The benchmark price of Rp 550.000 apply to the purchase of gold bullion biggest size 250 grams, while Rp 589,200 for the size of 1 gram. source: kompas.com Editor: Marcus Suprihadi
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