Gold Is Booming With Predictions Of IDR 1.6 Million Per Gram

Gold prices are predicted to boom in 2023. Director of the Center of Economic and Law Studies (Celios) Bhima Yudhistira predicts gold prices will reach IDR 1.6 million per gram.

“Gold price predictions can reach Rp. 1.5 million to Rp. 1.6 million per gram in 2023. The greater the threat of recession, the more attractive gold will be as a safe haven,” he explained (07/01/2023).

According to money.kompas.com, Bhima said that there will be a shift in investment instruments globally this year. Since the Covid-19 pandemic, the global market’s safe haven investment trends have continued to change. In 2020 and 2021 the market believes crypto assets will become the new safe haven.

However, many crypto assets fell so that the market shifted their assets to USD in 2022. This made the American currency become strong. This also put pressure on the currencies of other countries, including Indonesia.

“There will be a gold boom. The US dollar will soon change to gold as the most popular instrument. Central banks in many countries have started to accumulate gold reserves,” said Bhima.

He also estimates that the market demand for gold will soar this year. This is supported by high global inflation accompanied by reduced employment opportunities.

“Stagflation will spur investors to buy gold in large quantities,” said Bhima.

In addition, several countries have adopted policies to issue gold banks or bullion banks including Indonesia. Therefore, the Government in the Financial Sector Development and Strengthening Law (P2SK) will regulate the matter of establishing a gold bank in Indonesia. The formation of this gold bank is under the supervision of the Financial Services Authority (OJK).

The presence of a gold bank will make it easier to buy and sell gold. Starting from export, import, to the storage process. This will make gold an attractive commodity for investors because the demand for it is also becoming wider.