ANTAM'S GOLD PRICE - The price of Antam certified gold at Logam Mulia fell Rp 8,000 per gram on Friday, from Rp 1,219,000 per gram to Rp 1,211,000 per gram. The buyback price of gold also fell Rp 8,000 per gram today, from Rp 1,111,000 per gram to Rp 1,103,000 per gram.
The difference between the gold price and the buyback price today is Rp 108,000 per gram.
Antam has set two different prices for its gold bars: the gold price and the buyback price. The gold price listed above is the price that applies when we buy Antam gold from Logam Mulia outlets.
The buyback price is the price that applies when we sell gold to Logam Mulia outlets. So, if you buy gold from Antam this morning, you will have to pay Rp 1,211,000 per gram.
If, for some reason, you suddenly need money and have to sell the gold back to Logam Mulia in the afternoon or evening, don't be surprised that your gold will only be valued at Rp 1,103,000 per gram.
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Anyone who is serious about becoming a gold bar investor needs to understand the two different gold prices. Without taking into account the difference between the two prices, a gold investor could miscalculate their potential profit and loss.
With such a thick spread between the selling price and the buying price, gold is only suitable for long-term investment. In the long term, we hope that the price of gold will rise much higher, so that it can cover the difference between the selling price and the buyback price, and also provide a profit.
For example, a buyer of Antam Gold 1.5 years ago (September 22, 2022) would make a profit of 17.72% if they sold their gold at the buyback price today. At that time, they bought it at the price of Rp 937,000 per gram, but they can sell it at the buyback price today of Rp 1,103,000 per gram.
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Just as an illustration, here is a calculation of the potential profit/loss if investors bought gold bars at different times and sold them today:
- Buying gold on March 15, 2024 (Rp 1,194,000 per gram) = -7.62% (loss)
- Buying gold on February 22, 2024 (Rp 1,133,000 per gram) = -2.65% (loss)
- Buying gold on December 22, 2023 (Rp 1,128,000 per gram) = -2.22% (loss)
- Buying gold on September 22, 2023 (Rp 1,077,000 per gram) = 2.41% (profit)
- Buying gold on June 22, 2023 (Rp 1,058,000 per gram) = 4.25% (profit)
- Buying gold on March 22, 2023 (Rp 1,074,000 per gram) = 2.70% (profit)
- Buying gold on December 22, 2022 (Rp 1,014,000 per gram) = 8.78% (profit)
- Buying gold on September 22, 2022 (Rp 937,000 per gram) = 17.72% (profit)
- Buying gold on June 22, 2022 (Rp 993,000 per gram) = 11.08% (profit)
