Indonesia gold price decline pressures pawnshop sector

Indonesia’s gold price fell sharply, with the Antam benchmark sliding from around 3 million rupiah per gram earlier this year to about 2.65 million rupiah per gram on 26 June 2026. Analysts warned the drop could weigh on the gold‑pawn (gadai) business that relies on high gold values.

Despite the correction, state‑owned Pegadaian reported that demand for bullion services, including gold installment purchases and short‑term gold loans, remains robust. The company said its bullion‑related activities have already generated more than Rp 13 trillion this year and continue to grow, with customers attracted by lower prices and the perceived safety of gold as an investment and liquidity asset.