Gold prices in Indonesia trend downward amid market volatility

Gold prices in Indonesia have shown significant volatility and a downward trend over recent weeks. PT Aneka Tambang Tbk (Antam) gold prices for 1 gram fell by approximately 0.89% to 1.49% during the week ending October 4, 2026, reaching Rp 2,574,000. This decline also affected buyback prices, which dropped to around Rp 2,380,000 per gram.

Other major providers reported similar stability or slight variations. At Pegadaian, Galeri24 gold was priced at Rp 2,506,000 per gram, while UBS gold stood at Rp 2,530,000 per gram. Market analysts predict continued fluctuation, with potential price ranges between Rp 2,420,000 and Rp 2,680,000 per gram, influenced by global factors such as US Federal Reserve interest rate projections, oil prices, and geopolitical tensions in the Middle East.

Global institutions like HSBC have also revised their gold price projections downward for 2026 and 2027, citing economic pressures. Despite these adjustments, long-term outlooks remain positive as central bank demand is expected to support prices if they fall near the US$ 4,000 per troy ounce level.