Batam’s Gold Prices Experience Notable Rebound

In Batam, the price of gold bars has seen a significant recovery, rebounding from yesterday’s drop with notable increases reported today, May 2, 2024.

The latest pricing release from Galeri 24 in Batam shows a remarkable recovery in gold prices, closely matching the decrease experienced the previous day, highlighting the volatility and the quick rebound in the local gold market.

Gold bars from Galeri 24 saw increases across all sizes, with a 0.5 gram bar now costing SGD 59.81 (previously SGD 59.05), and a 1 gram bar priced at SGD 111.12, up by SGD 1.43.

For larger quantities, a 5 gram bar now goes for SGD 537.17, which is an increase of SGD 6.64, while a 10 gram bar is selling for SGD 1,065.97, up by SGD 13.19.

Galeri 24 also offers Antam gold, with the 0.5 gram bar costing SGD 61.50, and the 1 gram bar at SGD 114.52. The prices show a competitive market stance against other gold distributors.

This price rebound indicates a volatile but quickly recovering gold market in Batam, driven by both local and international economic signals.

Read More: Global Gold Prices Rise Amid Steady US Inflation Rates

Besides its own production, Galeri 24 also serves as a vendor for Antam gold, ensuring a variety of choices for consumers and investors in Batam.

The rebound in gold prices in Batam is a significant indication of the city’s dynamic gold market, which is responsive to both domestic and global economic changes. This recovery not only benefits local investors but also attracts international attention towards Batam as a robust market for precious metals.

After a dip in prices, Batam’s gold market has rebounded strongly with significant price increases reported across various sizes and brands, signaling a healthy recovery and offering promising opportunities for investors.

Source: Warta Kepri (2024)