From GOLD, JAKARTA. According to Daniar Wulandari, the head of the Gold Pawn & Installment Service Center at the Bank Syariah Indonesia (BSI) Ahmad Yani Semarang Branch, the practice of pawning gold increases during the Lebaran holiday compared to before. This trend is observed among the general public who use the funds as capital for their homecoming journey.
On the other hand, merchants tend to pawn more gold during the fasting period. This is done to ensure sufficient stock in their stores.
“As for the post-Lebaran period this year, it's too early to predict any rise or fall as we have just reopened,” Daniar told Kontan.co.id on Tuesday (16/4).
However, when compared to the previous month, there has been an increase. In April, the gold installment service reached IDR 307 million until the 5th, while in previous months it was relatively around IDR 300 million - IDR 400 million per month.
Furthermore, when compared to the Lebaran trend of the previous year, merchants tend to pawn more gold two months before fasting for the purpose of stocking their stores. Meanwhile, as Lebaran approaches, many settle their debts because of the jewelry they intend to wear.
For your information, BSI offers two services: gold pawning and gold installment. Gold pawning is a loan facility with gold as collateral. Meanwhile, gold installment is a form of purchasing gold bars by installment.
Meanwhile, gold shops in the Mranggen Demak Market area also see a surge in visitors after Lebaran.
People choose to buy gold post-Lebaran for various reasons, such as for dowry purposes due to the post-Lebaran wedding season, or simply as an investment from their Eid holiday allowance (THR).
At that time, the market price of gold reached IDR 1.21 million per gram, an increase of IDR 2,392, on Tuesday (16/4).
