Qardh secara etimologi adalah al-qath’u yang berarti potongan. Potongan yang dimaksud adalah potongan dari harta asset seseorang. Sedangkan menurut istilah memotong harta untuk memberikan pinjaman kepada orang lain tanpa mengharapkan imbalan. Pemberi pinjaman memberikan hak kepada peminjam untuk memanfaatkan dan mengkonsumsi aset yang dipinjamkan. Peminjam harus membayar kembali pinjaman kepada pemberi pinjaman dalam bentuk, jumlah, atau nilai pinjaman yang sama. Sehingga, apabila peminjam membayar lebih sebagaimana yang disebut dengan "bunga" atau "keuntungan", sangat dilarang. Al-Qardh (pinjam meminjam) hukumnya boleh dan dibenarkan secara syariat.
ICDX gold prices rose 1.26% compared to the previous week with market focus on Federal Open Market Committee Minutes Meeting and US Purchasing Managers' Index (PMI) data. Stemming from the geopolitical turmoil of the Middle East, the first Israeli-Hamas ceasefire deal since seven weeks of fighting allowed for the exchange of hostages and prisoners.
ICDX tin prices rose 2.47% compared to the previous week, supported by positive industrial data sentiment from China.Data from China's National Bureau of Statistics shows that in October, the added value of industries above the specified size actually increased by 4.6% year-on-year. From a month-on-month perspective, in October, the added value of industries above the specified size increased by 0.39%. From January to October, industrial value added above specified measures increased by 4.1% compared to last year.
ICDX oil prices weakened to $75.59 per barrel at the end week of November 10 due to the release of news related to Chinese economic data and an increase in oil stocks.
CPOTR price movements increased within a week to IDR 11,720/Kg, triggered by concerns about global supply disruptions due to the threat of El Nino in the Southeast Asia region and expectations of increased demand from India.
ICDX gold prices rose 1.63% compared to the previous week with the focus on the emergence of new geopolitical risks that increase demand for safe-haven assets. Boosting sentiment came from one of the main consumers of gold, China, which recorded consumption growth.
ICDX tin prices weakened 0.93% compared to the previous week, weighed down by US economic uncertainty regarding the sustainability of monetary policy. A University of Michigan survey showed consumers expect inflation a year ahead to grow at a pace of 3.8%, the highest since a June 2023 reading, while the previous month's data was revised higher to 3.2% from 3.1%. Philadelphia Fed President Patrick Harker noted that he supported the Fed's long-term expectations for monetary policy and also expressed uncertainty about how long interest rates should remain high.
The ICDX oil contract closed higher at $87.73 a barrel for the week ended Oct 13 due to conflict tensions in the Middle East and higher demand forecasts based on OPEC's global oil outlook.