There is Bad News for Gold in Pawnshops, Dare to Read Mother?

Jakarta, CNBC Indonesia - The reference gold price at Pegadaian was corrected on Thursday (19/8/2021), there is even bad news for those that could affect future prices. Tapering or the reduction in the value of the asset purchase program (quantitative easing/QE), which is the main enemy of gold, is getting closer.

According to data from Pegadaian's official website, the reference gold selling price fell 0.34% to IDR 880,000/gram, while the purchase price also fell by IDR 853,000/gram.

The world gold price is one of the main factors that determine the price of gold bullion in the country. For now, the high-flying world gold price began to dim. Because the release of the minutes of the monetary policy meeting of the US central bank (The Fed) in July shows that tapering can be done this year.


Tapering happened in 2013, the impact of world gold prices was in a downward trend until 2015.

Tapering can be done this year because inflation is said to have reached the target and the labor market recovery is also almost as expected.

"Looking ahead, most participants (Federal Open Market Committee/FOMC) noted that as long as the broad economic recovery matches their expectations, it would be appropriate to undertake a reduction in the value of asset purchases this year," the minutes read.

As a result of the minutes, the rate of increase in world gold prices was restrained and stagnant in the last 2 days. If the world gold price turns down, of course it will have an impact on the gold price at Pegadaian. However, there are other influencing factors such as the rupiah exchange rate and supply-demand.

This makes the percentage increase/decrease in gold at Pegadaian can be larger/smaller, sometimes also in the opposite direction.

Meanwhile, for gold bars, Pegadaian sells 3 types of Antam gold and UBS gold. Antam's retro gold price, which was previously the cheapest, is now equivalent to UBS gold for 0.5 grams and 1 gram.

While another measure of Antam's retro gold price is still cheaper, it shows that supply-demand affects the price.

The following is a complete list of gold prices at Pegadaian.

Unit Antam Price Antam Retro Price Price of Antam Batik UBS price
0.5 Rp0 Rp496.000 Rp618,000 Rp496.000
1.0 Rp0 Rp928.000 Rp1.139.000 Rp928.000
1.06 Rp0 Rp0 Rp0 Rp0
2.0 Rp1.904.000 Rp1.837.000 Rp0 Rp1.842.000
2.5 Rp0 Rp0 Rp0 Rp0
2.13 Rp0 Rp0 Rp0 Rp0
3.0 Rp2,829,000 Rp2,728,000 Rp0 Rp0
4.0 Rp0 Rp0 Rp0 Rp0
4.25 Rp0 Rp0 Rp0 Rp0
5.0 Rp4.681.000 Rp4.533.000 Rp0 Rp4.550.000
8.0 Rp0 Rp0 Rp8.612.000 Rp0
10.0 Rp9.304.000 Rp9.010.000 Rp0 Rp9.052.000
20.0 Rp0 Rp0 Rp0 Rp0
25.0 Rp23.129,000 Rp22.396,000 Rp0 Rp22.584.000
50.0 Rp46.174.000 Rp44.709.000 Rp0 Rp45.074.000
100.0 Rp92.266.000 Rp89.338,000 Rp0 Rp90.112.000
250.0 Rp230,388,000 Rp0 Rp0 Rp225.212,000
500.0 Rp460,557,000 Rp0 Rp0 Rp449.893.000
1000.0 Rp921.072.000 Rp0 Rp0 Rp898.815.000

CNBC INDONESIA RESEARCH TEAM


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(pap / pap)
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