Jakarta (Antara Bali) - Market researcher Ariston Tjendra said gold price continue to scale up on falling value of the US dollar against the majority of the world's currencies.
The dollar fall and expectation that Spain will ask for bailout fund, shore up gold higher, Ariston, the chief researcher of Monex Investindo Futures said here on Saturday.
The commodities gained from the Fed's announcement of third quantitative easing (QE) last week, he added.
He said investors are worried by the drastic monetary policy that weakened the dollar, prompting them to put their money in safer asset gold.
Tedy Badrujaman, the corporate Secretary of PT Aneka Tambang (Antam), a pure gold producer, said the QE policy could push up gold price.
However, there was almost no effect on the sales of pure gold recorded by Antam, as the state company sold most of its gold to retail buyers on the domestic market.(IGT/T007)
