Gold Prices Rise In Indonesia
GSI News Group: The price of gold in Indonesia hit a new six month high crossing the level of ...
GSI News Group: The price of gold in Indonesia hit a new six month high crossing the level of Rp140,000 (US$14) per gram, the association of gold and jewelry companies (Apepi) said.
In Jakarta, the price of gold rose to Rp142,000 per gram yesterday from Rp130,000 last week. The price rise followed the trend in the international market.
General Secretary of Apepi Gideon Sidharta said the price is predicted to rise further with the weakening rupiah.
Gideon attributed the increase to oil price hikes and the falling rupiah.
He said the price hike has discouraged buyers, adding in the past month sales fell to 20 per cent of the normal level.