Launch of the New PAMP Gold Contract
Indonesia Commodity & Derivatives Exchange (ICDX) offers new products in the form of gold contract Produits Artistiques Metaux Precieux (PAMP). This contract consists in rupiah and US dollar. PAMP is the largest producer of precious metals in Switzerland.
ICDX President Director, Megain Widjaja, revealed, in this gold contract, his side took
PT Straits Bullion as the exclusive distributor of PAMP gold in Indonesia. "This is to provide an alternative investment for the community," He Say on Wednesday (19/2).
The new gold contract in BKDI consists of two products. First, a gold contract with a quantity of 100 grams per lot in rupiah (PAMPGRID). In this contract, the maximum limit is 5000 lots. The price changes (tick size) is minimal
Rp 100 / gram or Rp 10.000 / lot.
Second, the gold contract is 1 kilogram (kg) per lot in US dollars (PAMPKGUD). In this contract, the minimum price change is US $ 0.01 per gram or (US $ 10 per lot) with 500 lot positions.
Based on the real transaction in BKDI, the difference between selling and buying price of PAMPGRID and PAMPKGUD contract is not too far. Referring to the contract PAMPGRID, Wednesday (19/2) at 15:00 pm, the difference between selling and buying only Rp 700 per gram. The bid position is Rp 498,600, while the offer position is Rp 499,300 per gram. While on the contract PAMPKGUD, bid position of US $ 42.39 and offer
US$ 42,41 per gram.
According to Megain, this gold contract transaction will be guaranteed by PT Identrust Security International (ISI Clearing) as a clearing house, so that investor transaction is safe and secure.
He said the gold requirement in Indonesia is very high reaching 5 tons in a month, consisting of 2 tons of gold jewelry and 3 tons of gold bars. Dus, BKDI hope, this new gold contract transaction can reach 10% of gold jewelry need or 200 kg per month.
Surjadi Widjaja, Director of Straits Bullion promised, it will provide gold in accordance with the transaction in BKDI. Investors can also convert physical gold. In Jakarta, the conversion cost is set at 4% of the price. The conversion fee is the cost of importing gold from Switzerland (see table).
Suluh Adil Wicaksono, PT Millennium Penata Futures analyst, said that BKDI's new contract prospect is quite positive. This product is also quite attractive for retail investors and institutions. In terms of price, PAMP gold is also cheaper than gold PT Aneka Tambang Tbk.