Research & Stock Picks

Company Reports

30 December 2024

By

Gold Weekly (23-27 December 2024): Avg. USD 2,622/oz (+0.1% WoW)

In the last five trading days, average gold prices were steady +0.1% WoW at USD 2,622/oz, while the DXY Index strengthened to 108.1 (+0.5% WoW). Gold prices rose Thursday on safe-haven demand post-Christmas trading, as markets awaited U.S. economic signals and the Fed’s 2025 rate strategy under Trump.

On the other hand, the rise in the DXY to 108 exerted additional pressure on gold prices, further weighed down by increased in U.S. Treasury yields (+0.22% to approximately 4.6%), which diminished gold's appeal as a non-yielding asset,  raising investors’ caution.

We maintain our FY24 gold price estimate at USD 2,400/oz (YTD: USD 2,384/oz) and FY25’s level at USD 2,600/oz, supported by potential Fed rate cuts to drive economic growth and gold purchases for reserves. Stock-wise, we retain BRMS as our top pick (TP IDR 500; USD 26.4/ton EV/Reserve FY25F), underpinned by strong dore bullion production, a solid earnings outlook, and substantial untapped asset potential.

Share This:

harga emas turun

Download PDF

Download PDF

Download PDF

More Related

Economic Reports

Feb 17, 2025

Morning Briefs

Feb 17, 2025

Technical Stock Analysis

Feb 17, 2025

Morning Briefs

Feb 14, 2025

Technical Stock Analysis

Feb 14, 2025

Economic Reports

Feb 13, 2025

Technical Stock Analysis

Feb 13, 2025

Morning Briefs

Feb 13, 2025

Economic Reports

Feb 12, 2025

Morning Briefs

Feb 12, 2025

Technical Stock Analysis

Feb 12, 2025

Economic Reports

Feb 11, 2025

Technical Stock Analysis

Feb 11, 2025

Economic Reports

Feb 10, 2025

Technical Stock Analysis

Feb 10, 2025

Morning Briefs

Feb 10, 2025

Technical Stock Analysis

Feb 7, 2025

Morning Briefs

Feb 7, 2025

Economic Reports

Feb 6, 2025

Technical Stock Analysis

Feb 6, 2025

Morning Briefs

Feb 6, 2025

Economic Reports

Feb 6, 2025

Economic Reports

Feb 5, 2025

Technical Stock Analysis

Feb 5, 2025

Morning Briefs

Feb 5, 2025

Economic Reports

Feb 5, 2025

Technical Stock Analysis

Feb 4, 2025

Economic Reports

Feb 4, 2025

Economic Reports

Feb 3, 2025

Economic Reports

Feb 3, 2025

Morning Briefs

Feb 3, 2025

Technical Stock Analysis

Feb 3, 2025

Technical Stock Analysis

Jan 31, 2025

Morning Briefs

Jan 31, 2025

Economic Reports

Jan 30, 2025

Morning Briefs

Jan 30, 2025

Technical Stock Analysis

Jan 30, 2025

Company Reports

Jan 24, 2025

tren positif rumah sakit

Company Reports

Jan 24, 2025

Company Reports

Jan 24, 2025

sektor media

Company Reports

Jan 24, 2025

penurunan penjualan semen

Company Reports

Jan 24, 2025

Company Reports

Jan 24, 2025

Company Reports

Jan 24, 2025

Company Reports

Jan 24, 2025

Morning Briefs

Jan 24, 2025

Economic Reports

Jan 23, 2025

Morning Briefs

Jan 23, 2025

Economic Reports

Jan 22, 2025

Morning Briefs

Jan 22, 2025

Economic Reports

Jan 21, 2025

Company Reports

Jan 21, 2025

Economic Reports

Jan 20, 2025

Morning Briefs

Jan 20, 2025

Technical Stock Analysis

Jan 20, 2025

Technical Stock Analysis

Jan 17, 2025