Jakarta. The price of Aneka Tambang (Antam) gold fell again on Thursday, dropping Rp 16,000 to Rp 2,321,000 ($139.51) per gram.

On Wednesday morning, Antam gold plunged sharply by Rp 177,000 to Rp 2,310,000 per gram, before recovering slightly in the evening with a Rp 27,000 rebound to Rp 2,337,000 per gram.

Meanwhile, Antam’s buyback price, the rate at which the company repurchases gold, also declined significantly by Rp 35,000 to Rp 2,189,000 per gram on Thursday.

Globally, gold prices extended their decline as momentum on Wall Street reversed. The precious metal fell 1.1 percent to $4,065.40 per troy ounce on Wednesday, following a 5.3 percent slide on Tuesday that pulled it off a record high.

Many of the same factors that pushed gold prices higher earlier this year remain in place. The market still expects the Federal Reserve to begin cutting interest rates next year, while concerns persist about stubborn inflation and growing government debt levels in the United States and other major economies.

Antam Gold Prices (Thursday, Oct. 23):

• 0.5 gram —Rp 1,210,500
• 1 gram — Rp 2,321,000
• 5 grams — Rp 11,380,000
• 10 grams — Rp 22,705,000
• 25 grams — Rp 56,637,000
• 50 grams — Rp 113,195,000
• 100 grams — Rp 226,312,000
• 250 grams — Rp 565,515,000
• 500 grams — Rp 1,130,820,000
• 1,000 grams —Rp 2,261,600,000

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