Buy or Sell Gold at LongAsia

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Gold

Gold is one of the precious minerals of the world. Gold has a long and fascinating usage history in a diverse range of industries and applications. In each of the applications it is used, gold provides an outstanding performance due to its unique properties of being one of the most malleable and ductile metals with high melting point and easy recyclability.

The mineral is yellow and mainly used to make jewels and for decoration purposes. Gold is also used by countries to guarantee the value of their currencies so that the economy is not adversely affected by the fluctuations in currency values. People who wear jewels and accessories made of Gold exude prestige and occupy the higher social class. Such is indicative of the value attached to Gold.

Indonesia is home to the world’s largest gold reserves. Traditionally, the gold has been a byproduct of the copper mining. Almost half of the country’s total gold production takes place at the Grasberg mine. Gold is turning out to be an important component of the Indonesian economy.

The Fundamental Drivers of The Gold Market

Prices for the physical market in the international markets refer to Loco London.

Inflation in the market is a major driver of the gold industry in Indonesia. While the local currency in the country loses value, Gold does not. This makes the commodity to be sought after by those who want to secure their money in case of inflation. The growth in income and spending power of the consumers of Gold also drives the Indonesian Gold industry.

As the buying power of the consumer’s increases, so does the demand for Gold. In turn, the mining of Gold increases.

Modern hedging techniques and strategies, including market-based risk management financial instruments, such as gold futures, can improve efficiencies and consolidate competitiveness.

Trading Hours: 06:00 – 04:30 (03:30 DST) WIB

GOLDUD is daily USD gold rollover contract, with 10 troy ounce for each lot. GOLDUD is using USD denomination and refers to Loco London gold price with 99.99% purity.

Trading Hours: 07.00 – 04:30 Jakarta Time

GOLDGR is a symbol of a gold futures contract specification of 100 grams per lot in rupiah (IDR). The quality of gold that can be sent through this contract must have a purity of 9999 and have a serial number and identify the stamp of the refiner approved and registered by ICDX.

Trading Hours: 06:00 – 04:30 (03:30 DST) GMT+7

GOLDID is daily IDR gold rollover contract, with 10 troy ounce for each lot. GOLDID is using IDR denomination and refers to Loco London gold price with 99,99% purity.