Redeem Gold First, Cool Eid Later

Approaching Eid, residents redeem gold at Pegadaian to be stylish.

RAYNARD KRISTIAN BONANIO PARDEDE

The atmosphere of the Kemandoran Branch of the Pegadaian office, South Jakarta, on Thursday (4/4/2024).

Wearing new clothes, pants, and shoes during Eid seems to be an obligation for the community that cannot be missed. It's not for showing off, looking good is just the way each individual adds to the festive atmosphere.

Wearing accessories on the ears, hands, and even feet should not be forgotten. To support this desire, the pawnshop atmosphere also began to be crowded with the commotion of mothers who wanted to redeem their gold. After Eid al-Fitr, the jewelry goes back to "school" again. A regular cycle.

Will it be mortgaged again after Eid? Between yes and no

Since the middle of Ramadhan 2024, the waiting chairs at the Kemandoran Pegadaian Office, Kebayoran Lama, South Jakarta are always busy. On Thursday (4/4/2024), in the waiting chairs, four women and two men were seen waiting in line. Tata (39), a resident of Permata Hijau, Jakarta patiently waited for his name to be called by the cashier. He waited for about 15 minutes until his name was called.

He came this time to redeem two gold earrings that he pawned some time ago. I want to wear these earrings on Eid al-Fitr, so that they look bright. He does this activity quite regularly. After Eid, Tata usually pawns the earrings back for living expenses.

"The earrings for Eid will be worn for social gatherings around the village," he said with a faint laugh.

After Tata, it is now Syaras Tita's turn (42), a resident of Kemanggisan, West Jakarta who was called by the cashier. She also came to redeem her gold earrings that had been pledged since a few months ago. She plans to wear these earrings during Eid al-Fitr celebrations with her family. Bonus she received from her workplace made her have enough money to redeem the jewelry.

Also read: Gold Jewelry Plated Services Reap Blessings Ahead of Eid

Gold is not just about jewelry. For some people, owning this precious metal is a tactical strategy to face the ups and downs of life. "Will it be pawned again after Eid? It's a yes and no, but my hope is not to. It depends on the needs and conditions later," said Syaras.

Many people pawn

Every Eid, Pegadaian's office is always crowded compared to normal times. Manager Gadai Pegadaian Cabang Kemandoran, Nur Arofah, explained that the interest of residents in using pawnshop services is evident from the beginning of Ramadan until approaching Eid. At the start, customers pawn valuable items such as jewelry and vehicle certificates. The fresh funds are used for capital to start a business, such as selling takjil, Ramadan trinkets, and others. Before Eid, customers are busy redeeming their gold.

RAYNARD KRISTIAN BONANIO PARDEDE

The atmosphere of the Pegadaian Subsidiary Unit Branch office, Slipi Jaya, Slipi, West Jakarta, on Thursday (4/4/2024).

He explained that specifically for redemption, people's enthusiasm even began to be seen on D-12 to D-3 of Eid al-Fitr. Mothers are the main pegadaian customers. When compared with last year's Eid period, the increase in demand redeem gold this year rose 20 percent.

Aside from pawning gold, communities are also keen on depositing their jewelry or vehicles to avoid worrying when they return home to their village. Pegadaian offers a minimum deposit period of two weeks up to a maximum of one year. The fees are also quite affordable.

For motorcycles, the storage fee is Rp 15,000, while for cars it is Rp 30,000. This fee is for a 10-day storage period. "Since it is usually women who hold the jewelry, they use it well, causing the numbers to rise. The storage fee has also increased by up to 50 percent," said Nur.

In general, the business performance of Pegadaian is currently positive. Data as of Sunday (24/3/2024) states that from the beginning to the middle of Ramadan, the amount of pledged credit disbursement in all Pegadaian offices has reached IDR 6.3 trillion. Pledged loan disbursement in the same period also increased by IDR 487 billion compared to the previous month. Meanwhile, as of February 2024, the company's profit grew by 21.4 percent compared to the same period.

Gold trend

Redeeming and pawning gold jewelry is still a winner

In line with Nur, Pegadaian Company Secretary Zulfan Adam explained that every year before Lebaran, the trend of redeeming jewelry increases as customers want to wear them during the holiday. The trend of redeeming gold usually starts to emerge from one week before Lebaran. The Eid al-Fitr Allowance (THR) is already in hand, helping customers to redeem the gold that they previously pawned.

After wearing jewelry during Eid al-Fitr, gold will go back to "school." The cash from pawning the gold is used to fulfill daily needs. "Redeeming and pawning gold jewelry is still the top choice," he said.

Gold can also be used as THR or "sticker greetings" for family members during gatherings. Since the beginning of April, Pegadaian has started offering pocket-friendly gold products, namely baby gold. Gold with grades starting from 0.02 grams is priced at up to IDR 50 thousand only.

This type of gold has started to be hunted by the community to be used as a holiday bonus. Giving gold as a bonus is considered more beneficial than giving cash, especially for children because it can educate them to start learning about investment.

KOMPAS/TOTOK WIJAYANTO

Employees at the Islamic Pawnshop branch on Kramat Raya Street in Jakarta are polishing the gold jewelry pawned by customers in the process of determining its purity, on Wednesday (29/7/2020).

Gold with grades starting from 0.02 grams is priced at up to IDR 50 thousand only

Apart from redeeming gold, quite a few people also use THR to buy gold for investment purposes. The chaotic conditions of the global economy which are currently uncertain have actually made the price of gold even more uncertain. Gold is no longer about appearance, but has become a safe haven as an investment strategy for survival in the increasingly challenging years to come.

The rising price of gold is indeed happening. For the past few years, the popularity of this precious metal has continued to soar. In 2018, the price of gold was still around Rp. 600,000 to Rp. 615,000 per gram. Now, the price of gold has exceeded Rp. 1,200,000 - Rp. 1,300,000 per gram. Owning it is an opportunity that cannot be missed.

Also read: Safe Homecoming, Anti-Theft Home

Pawning itself offers two types of gold bars, namely gold prints from PT Untung Bersama Sejahtera (UBS), as well as gold produced by the red plate company, PT Aneka Tambang Tbk (Antam). According to Pegadaian data as of Friday (5/4/2024), UBS gold is already priced at Rp 1,292,000 per gram.

Meanwhile, Antam gold is priced at Rp 1,316,000 per gram. Promotions are also being held, ranging from down payment discounts to discounts of up to Rp 1,000,000 for those who want to have a gold savings account. "Gold is still the champion," said Zulfan.

However, if you are unable to have those things on the holiday, there is no need to feel disheartened. Just hum in your heart classic songs by Dhea Ananda as a dopamine of gratitude and happiness. The Idul Fitri holiday is not about partying; what is important is to seek forgiveness both outwardly and inwardly.