Indonesia gold export reference price falls 3.15 percent

The Indonesian Ministry of Trade has announced a 3.15 percent decrease in the Gold Export Reference Price (HPE) for the second period of October 2026. The HPE is set at USD 135,024.36 per kilogram, down from USD 139,409.07 in the first period of the month.

Additionally, the Gold Reference Price (HR) has dropped to USD 4,199.73 per troy ounce from the previous USD 4,336.11. Tommy Andana, Director General of Foreign Trade, attributed this decline to the strengthening of major global currencies and rising international bond yields, which have prompted investors to shift capital from gold to bonds.

The new pricing regulations, established under Ministerial Decree Number 2008 of 2026, are effective from October 15 to October 31, 2026. The determination was made through inter-ministerial coordination involving the Ministry of Energy and Mineral Resources, the Coordinating Ministry for Economic Affairs, the Ministry of Finance, and the Ministry of Industry, utilizing data from the London Bullion Market Association (LBMA).