Research & Stock Picks

Company Reports

09 December 2024

By

Gold Weekly (02-06 December 2024): Avg. USD 2,640/oz (+0.2% WoW)

Recent Catalysts Driving the Price

  • In the last five trading days, average gold prices was relatively flat +0.2% WoW to USD 2,640/oz (from USD 2,635/oz), while the DXY index decreased to USD 106.2 (-0.15% WoW). Gold prices were little changed on Thursday as UST yields hiked following the release of weekly jobless claims data, with market players awaiting US nonfarm payrolls report for further insights into the Fed’s rate policy.
  • In November, US job growth report showed gradual easing of the labor market, with nonfarm payrolls rising +227,000, above the expected 200,000. The data strengthened expectations of another interest rate cut, with traders now seeing 87% chance of 25bps reduction in December. The potential rate cut has supported gold's rally this year, as lower rates enhance the attractiveness of non-yielding assets like gold.
  • We maintain our FY24 gold price estimate at USD 2,400/oz (YTD: USD 2,373/oz), as heated geopolitical tensions are likely to sustain gold’s appeal as safe-haven asset. Stock-wise, we retain BRMS as our top pick (TP IDR 500; USD 26.4/ton EV/Reserve FY25F), driven by its robust dore bullion production, strong earnings outlook, and substantial untapped assets potential.

Share This:

Harga Emas Turun

Download PDF

Download PDF

UPDATE_Gold_Weekly_20241209

Download PDF

UPDATE_Gold_Weekly_20241209

More Related

Morning Briefs

Mar 4, 2026

Economic Reports

Mar 4, 2026

Morning Briefs

Mar 3, 2026

Economic Reports

Mar 3, 2026

Economic Reports

Mar 2, 2026

Economic Reports

Mar 2, 2026

Economic Reports

Mar 2, 2026

Morning Briefs

Mar 2, 2026

Economic Reports

Mar 2, 2026

Morning Briefs

Feb 27, 2026

Economic Reports

Feb 27, 2026

Morning Briefs

Feb 26, 2026

Economic Reports

Feb 26, 2026

Morning Briefs

Feb 25, 2026

Economic Reports

Feb 25, 2026

Economic Reports

Feb 24, 2026

Morning Briefs

Feb 23, 2026

Economic Reports

Feb 23, 2026

Morning Briefs

Feb 20, 2026

Economic Reports

Feb 20, 2026

Economic Reports

Feb 19, 2026

Morning Briefs

Feb 19, 2026

Economic Reports

Feb 19, 2026

Morning Briefs

Feb 18, 2026

Economic Reports

Feb 18, 2026

Morning Briefs

Feb 13, 2026

Economic Reports

Feb 13, 2026

Morning Briefs

Feb 12, 2026

Economic Reports

Feb 12, 2026

Morning Briefs

Feb 11, 2026

Economic Reports

Feb 11, 2026

Economic Reports

Feb 10, 2026

Morning Briefs

Feb 9, 2026

Morning Briefs

Feb 6, 2026

Economic Reports

Feb 6, 2026

Economic Reports

Feb 5, 2026

Morning Briefs

Feb 5, 2026

Economic Reports

Feb 5, 2026

Morning Briefs

Feb 4, 2026

Economic Reports

Feb 4, 2026

Economic Reports

Feb 3, 2026

Economic Reports

Feb 2, 2026

Economic Reports

Feb 2, 2026

Economic Reports

Feb 2, 2026

Morning Briefs

Feb 2, 2026

Morning Briefs

Jan 30, 2026

Economic Reports

Jan 29, 2026

Morning Briefs

Jan 29, 2026

Economic Reports

Jan 29, 2026

Morning Briefs

Jan 28, 2026

Economic Reports

Jan 27, 2026

Company Reports

Jan 26, 2026

Company Reports

Jan 26, 2026

Company Reports

Jan 26, 2026

Morning Briefs

Jan 26, 2026

Economic Reports

Jan 26, 2026

Morning Briefs

Jan 23, 2026

Economic Reports

Jan 23, 2026

Morning Briefs

Jan 22, 2026

Economic Reports

Jan 22, 2026

Economic Reports

Jan 21, 2026

Morning Briefs

Jan 21, 2026

Economic Reports

Jan 21, 2026

Economic Reports

Jan 20, 2026

Company Reports

Jan 19, 2026

Morning Briefs

Jan 19, 2026

Economic Reports

Jan 19, 2026

harga cpo meningkat

Company Reports

Jan 15, 2026

Morning Briefs

Jan 15, 2026

Economic Reports

Jan 15, 2026

Morning Briefs

Jan 14, 2026

Economic Reports

Jan 14, 2026

Morning Briefs

Jan 13, 2026

Economic Reports

Jan 13, 2026

Morning Briefs

Jan 12, 2026

Economic Reports

Jan 12, 2026

Morning Briefs

Jan 9, 2026

Economic Reports

Jan 9, 2026

Morning Briefs

Jan 8, 2026

Economic Reports

Jan 8, 2026

Morning Briefs

Jan 7, 2026

Economic Reports

Jan 7, 2026