Price Performance Indicator
Product | Previous Week | % Change |
GOLDUD | $1,887.40 | 1.86% |
GOLDID | Rp 27,134,000 | 1.55% |
GOLDGR | Rp 891,700 | 1.71% |
XAUUSD | $1,897.86 | 2.00% |
COMEX | $1,899.80 | 2.02% |
USD/IDR | Rp 14,325 | -0.17% |
· In a week (14/02 – 18/02) the price of ICDX’s Gold moved higher 1.86%.
· Tension between Russia and Ukraine gets hotter last week.
Gold prices moved 1.86% higher than previous week, with prices moved to $1900 sector in the first time since last June. The main sentiment came from heightened tension between Russia and Ukraine, especially after Biden warned that there are indication that Russia was planning to invade Ukraine.
The geopolitical tension became more uncertain after a report told that each party (Russia and Ukraine) were each had fired across the ceasefire line in eastern Ukraine. The report caused more fears that relationship between Russia and Ukraine may be worsen in days a head.
While the gold prices were clouded by the risk aversion sentiment, global investor were still looking for the prospect of the Fed raising the interest rate a lot more aggressive in the nearest meeting, which took in March. Investor were aiming for 50 basis point raise in March meeting, while market expectation were divided into a raise by 25 basis point and others were aiming for higher raise in the next meeting
From Europe to US to Move the Gold Prices
Sentiment from Europeans, especially the relationship between Russia and Ukraine still be in focus this week as it moved the risk aversion sentiment that directly moved the gold prices. Besides the geopolitical sentiment, the US sentiment also may be focused as the people were looking for a better US GDP released this week that may spurred a higher expectation for the next Fed meeting. Will the sentiment from European and US moving the gold prices to another significant level this week?
Date | Data/Events | Actual | Expectation | Previous |
23-Feb | NZ - RBNZ Meeting & Official Cash Rate | - | 1.00% | 0.75% |
23-Feb | GB - Policy Report Hearings | - | - | - |
24-Feb | US - Prelim GDP q/q | - | 7.0% | 6.9% |
25-Feb | US - Core PCE Price Index m/m | - | 0.5% | 0.5% |
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