Research & Stock Picks

Company Reports

09 September 2024

By

Gold Weekly (09 September 2024): USD 2,500/Oz (-0.6% WoW)

Recent Catalysts Driving the Price

  • Between 02 – 06 September 2024, average gold prices fell -0.6% WoW to USD 2,500/oz from USD 2,514/oz, while DXY index rose +0.3% WoW. Gold prices fluctuated after the US reported lower-than-expected nonfarm payroll data for August at 142,000 (forecast: 161,000). The data fuelled market optimism, as investors speculated slower job growth could lead to lower Fed rates ahead.
  • However, the DXY rose 0.3%, and the 10-year US Treasury yield increased 7 basis points to 4.28%,  dampening positive sentiment and applying pressure on gold prices. Investors remained cautious, awaiting further economic data to predict future interest rate decisions.
  • We retain our FY24 gold price estimate at USD 2,500/oz (YTD: USD 2,274/oz), and continue to favor MDKA as our top pick, with target price (TP) of IDR 3,300 based on FY24 EV/EBITDA of 12.2x.

Share This:

harga emas turun

Download PDF

Download PDF

UPDATE_Gold_Weekly_20240909

Download PDF

UPDATE_Gold_Weekly_20240909

More Related

Morning Briefs

Dec 15, 2025

Economic Reports

Dec 15, 2025

Morning Briefs

Dec 12, 2025

Economic Reports

Dec 12, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 11, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 10, 2025

Economic Reports

Dec 10, 2025

Company Reports

Dec 9, 2025

Economic Reports

Dec 9, 2025

Morning Briefs

Dec 8, 2025

Company Reports

Dec 5, 2025

Morning Briefs

Dec 5, 2025

Economic Reports

Dec 5, 2025

Morning Briefs

Dec 4, 2025

Economic Reports

Dec 4, 2025

Morning Briefs

Dec 3, 2025

Economic Reports

Dec 3, 2025

Company Reports

Dec 2, 2025

Economic Reports

Dec 2, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Morning Briefs

Dec 1, 2025

Economic Reports

Nov 30, 2025

Morning Briefs

Nov 28, 2025

Economic Reports

Nov 28, 2025

Morning Briefs

Nov 27, 2025

Economic Reports

Nov 27, 2025

Morning Briefs

Nov 26, 2025

Economic Reports

Nov 26, 2025

Economic Reports

Nov 25, 2025

Morning Briefs

Nov 24, 2025

Economic Reports

Nov 24, 2025

Morning Briefs

Nov 21, 2025

Economic Reports

Nov 21, 2025

Economic Reports

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 19, 2025

Economic Reports

Nov 19, 2025

Company Reports

Nov 18, 2025

Economic Reports

Nov 18, 2025

Morning Briefs

Nov 17, 2025

Economic Reports

Nov 16, 2025

Morning Briefs

Nov 14, 2025

Company Reports

Nov 13, 2025

Economic Reports

Nov 13, 2025

Morning Briefs

Nov 13, 2025

Economic Reports

Nov 12, 2025

Morning Briefs

Nov 12, 2025

Economic Reports

Nov 11, 2025

Economic Reports

Nov 10, 2025

Morning Briefs

Nov 10, 2025

Morning Briefs

Nov 7, 2025

Economic Reports

Nov 6, 2025

Morning Briefs

Nov 6, 2025

Economic Reports

Nov 5, 2025

Economic Reports

Nov 5, 2025

Morning Briefs

Nov 5, 2025

laba bumi

Company Reports

Nov 5, 2025

Economic Reports

Nov 4, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Morning Briefs

Nov 3, 2025

Company Reports

Oct 31, 2025

Morning Briefs

Oct 31, 2025