Gold is still the preferred safe haven for investors to keep the value of their assets, an observer said.Jakarta (ANTARA News) - The country`s economic growth of 6.3 percent in the first half of this year prompted Indonesians to invest their money in gold, which is seen safer amid volatile global financial condition, market observers said.
"Many Indonesian choose to invest money they can spare in gold rather than in other assets including dollar," Ruly Nova a market observer from Bank Himpunan Saudara, said here.
Gold is still the preferred safe haven for investors to keep the value of their assets, Ruly said here on Monday.
The official data of the Central Statistic Agency (BPS) showed that the country`s economy expanded 6.3 percent on-year in the fist six months of the year.
Ruly said gold price could still rise higher as a result of The Fed`s quantitative easing, a monetary policy in a bid to shore up flagging US economy.
"The QE policy sends investors hunting for gold triggering a surge in gold price," he said.
Meanwhile, the Precious Metal Processing and Purification Unit of state-owned mining company PT Aneka Tambang (Antam) announced gold price at Rp584,200 per gram on Monday.
The price of 5-gram gold bars is set at Rp2.771 million and 1-gram bars at Rp5.502 million each
The gold prices in the world market was 13.30 points or 0.75 percent lower at US$1,764.70 per ounce today.
Earlier Antam`s Corporate Secretary Tedy Badrujaman said retail investors in the country tended to invest in small gold bars of 10 grams-50 grams
Tedy said Antam sells most of its gold production in retail on the domestic market.(*)
Editor: Heru Purwanto
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