Gold prices continue to rise up to Rp1,94 million per 2.5 grams in Padang

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Gold prices continue to rise up to Rp1,94 million per 2.5 grams  in Padang

Gold prices rise in Pasar Raya Padang reaching Rp1.94 million per 2.5 grams (Antara / Laila Syafarud)

Padang (ANTARA) - The price of jewelery gold continues to rise in Pasar Raya Padang, West Sumatra to reach Rp1,940,000 per 2.5 grams compared to Rp1,900,000 per 2.5 grams previously.

"In addition to gold jewelery, gold bars also rose Rp1,850,000 per 2.5 grams from the previous price of Rp1,840,000 per 2.5 grams," said a gold seller at Pasar Raya Padang, Ridho, Sunday.

Not only that, the price of white gold also rose by Rp755,000 per gram, previously only Rp715,000 per gram, he said.

He said the increase of gold prices had occurred since the news about the corona virus outbreak.

According to him the issue of the corona virus outbreak is one of the causes of the increase of gold prices because many investors are switching from risk assets to safer assets, namely gold.

He said the increase of gold prices was also caused by changes in the value of the dollar and rising world gold prices. While the price of the rupiah weakened.

"The higher the value of the dollar against the rupiah, the higher the price of gold," he said.

According to him the price of gold jewelery is a bit more expensive than the price of gold bars, because gold bars have not been modified.

"I think the price of this gold will continue to rise until approaching Eid later, because it is influenced by the increasing number of requests in the market," he said.

He said that because of rising gold prices, most people now sell rather than buy gold, which is 60 percent.

"The price discount for gold sales is Rp 100,000 per 2.5 grams," he said.

Transleted by: Mutiara Ramadhani

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