Antam sees gold price to further rise to $1,500

By Thomas Sembiring

IDX-listed mining company PT Aneka Tambang Tbk (Antam) expects gold price to continue its rally, amid lingering global uncertainties, looking at a price of US$1,500 per oz by the end of this year.

?Looking at the various analysis, $1,500 is still possible,? said Dimas Wikan, Finance Director of Antam on Wednesday.

He said that gold price has appreciated by 30 percent so far this year. The upcoming president election in the US and uncertainty over the direction of US Fed interest rate have added to the lingering economic and geopolitical uncertainty in the world, triggering investors to run for safe haven assets particularly gold, pushing its price higher, Dimas explained.

?We think that the bullish trend of gold is still on going,? he said.

Editing by Reiner Simanjuntak