JAKARTA - Gold prices on the global and domestic markets fell from their highest levels, after the President of the United States (US) announced reciprocal tariffs to 52 trading partner countries on Wednesday (2/4).

On the day of the tariff announcement, which Trump called ‘Liberation Day’, the price of gold on the spot market was at US$3,133.57 per ounce. This is the highest level of gold prices in history.

Meanwhile, at the close of trading on Friday (4/4) yesterday, gold prices fell 3.07% to US$3,007.36 per ounce.

Standard Chartered analyst, Suki Cooper, assessed that the decline in gold prices was due to the rampant selling of investors who were trying to cover their losses in other instruments.

‘We still see the risk of further increases, given the current market conditions that tend to be risk-off,’ said Suki, quoted by Reuters.

Meanwhile in the domestic market, the price of Antam gold on Saturday (5/4) today was at Rp1,781,000 per gram. The Antam gold price on Thursday (3/4) broke through to its highest level in history, at IDR 1,836,000 per gram.

So that the price of Antam gold has fallen 3% from its highest level, until Saturday today.

A number of other precious metals also recorded price declines. Silver prices fell 3.7% during the week, while platinum fell 2.9%. (KR/LM)