CPOTR price movement decreased by 1.19% in a week to the IDR 12850/Kg level due to the impact of concerns about the banking industry which also affected CPO prices so that this turmoil is still a concern of the market and is feared to trigger a global banking crisis. In addition, CPO prices were dragged down by the decline in other vegetable oils such as soybean oil and sunflower seeds because CPO prices tended to follow the movements of other vegetable oils
The ICDX gold price jumped by 3.52% compared to the previous week, influenced by economic uncertainty due to the US banking crisis that spread to the European region supporting demand for gold as a safe-haven asset.
The price of the ICDX oil contract on a weekly basis closed higher by 6 percent for the week ended March 3 supported by sentiment from the release of China's latest economic data showing February's manufacturing sector grew at its fastest pace in more than a decade.
Price movements at CPOTR increased by 2.54% in a week to the level of IDR 13,715/Kg. The strengthening of CPO prices was triggered by positive sentiment both from within the country and abroad which also supported CPO prices.
ICDX gold price weakened by -0.65% compared to the previous week with the dollar index sentiment strengthening 0.57% after a series of US economic data gave rise to market expectations of a tighter policy by the US central bank.
The price of the ICDX crude oil contract for the week ending February 3 was observed to have moved down by 6% in a week, which was triggered by anticipation of various sentiments in the market ahead of the imposition of an embargo and price limit on Russian refined petroleum products on February 5. One of the main focuses is on the steps taken by OPEC+ in an effort to maintain the stability of global energy markets.