It is predicted the gold price may rise still as the public in this country begin to be more aware that it is safer to invest in gold which could be used as a hedging against inflation.Jakarta (ANTARA News) - The price of gold of state mining company PT Aneka Tambang Tbk (Antam) has been growing as the public believe it is safer and more profitable to invest in that commodity.
Samuel Sekuritas` economist Lana Soelistianingsih said here Monday that the public interest in investing in gold is growing.
The price set by Antam`s Precious Metal Refining and Processing Business Unit rose 1.55 percent to Rp588,200 per gram on Monday from Rp579,000 a week earlier .
The price was Rp1.136 million for a two-gram gold bar, Rp2.791 million for a 5-gram gold bar and Rp5.542 million for a 10-gram gold bar.
"Gold prices are rising although more people prefer to invest in gold ornaments," Lana said here on Monday.
She said the procedure of investing in gold bars or ornaments is simple compared to investing in shares , adding people need only to go to Antam and receive the certificate.
Meanwhile, Ariston Tjendra, the chief researcher of Monex Investindo Futures said the Fed`s monetary stimulus issued last weekend contributed to the rise in gold price.
Investors are buying gold to protect their investment against the impact of inflation expected as a result of the relaxation of monetary policy , Ariston said.
"Gold value will increase when big central banks coordinate their steps in printing more money and issuing stimulus policy," he said.
He predicted the gold price may rise still as the public in this country begin to be more aware that it is safer to invest in gold which could be used as a hedging against inflation.
"Pressure on gold is not expected to be long . The people would not be worried by short term setback as they believe gold price tends to rise," he said.
Meanwhile, gold price in the world market was recorded at US$1,771 per ounce down slightly by 0.05 percent .(*)
Editor: Heru Purwanto
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