Gold sales soar as rupiah depreciates
“State-owned mining company PT Aneka Tambang (Antam) has said its gold sales jumped significantly in the first half of 2018 as a result of the weakening rupiah. . .“An impact of the dollar strengthening is that people are buying gold. Domestic demand has increased. . .”
USAGOLD note: Indonesia joins a number of emerging countries experiencing greatly increased gold demand among citizens concerned about currency and debt problems. The list, in fact, grows longer by the day.
Chart courtesy of TradingEconomics.com