Gotrade News - Antam, Indonesia's state-owned gold producer, cut its benchmark gold price by Rp15,000 to Rp2,769,000 per gram on Thursday (30/04). The move marked a two-day cumulative drop of Rp45,000 and signaled cooling retail demand in Southeast Asia's largest gold market.
Antam silver also slipped Rp850 to Rp46,300 per gram, while the gold buyback price fell Rp24,000 to Rp2,549,000. The pullback followed the Fed's Wednesday (29/04) decision to hold rates at 3.5-3.75%, dulling gold's appeal as a non-yielding asset.
Key Takeaways
- The Fed kept rates at 3.5-3.75% with the largest dissent since 1992, keeping real yields elevated and pressuring non-yielding metals.
- Stalled Iran-US talks lifted oil prices and inflation expectations, narrowing the path to near-term Fed easing.
- Retail traders eyeing global gold and silver exposure can track GLD, SLV, NEM, and GDX for direct US-listed proxies.
Spot gold fell 1.7% to USD 4,600.61 per ounce while US gold futures dropped 1.8% to USD 4,608.40, MetroTV reported. The selloff aligned with a stronger dollar and shifting rate expectations after the FOMC kept policy on hold.
Eight FOMC members supported the pause while four dissented, the widest split since October 1992 according to CNBC Indonesia. Governor Stephen Miran sought a 25-basis-point cut, while Beth Hammack, Neel Kashkari and Lorie Logan opposed dovish language.
Global silver moved counter to Antam, climbing 1% to USD 72.02 per ounce on rising energy costs, Liputan6 reported. The divergence reflects rupiah weakness against the dollar, which pushed local silver lower despite firmer global benchmarks.
President Donald Trump rejected Iran's latest peace proposal, keeping Strait of Hormuz risk and oil supply concerns in play. The combination of higher oil and steady Fed policy makes inflation stickier and limits room for near-term rate cuts.
Antam gold reached a record Rp3,168,000 per gram on January 29, 2026, placing today's level roughly 12.6% below the peak. Investors using US-listed products such as IAU face the same Fed and geopolitical drivers without IDR exposure.
Antam offers retail bullion across denominations from 0.5 grams at Rp1,434,500 to 100 grams at Rp271,600,000. The buyback price drop of Rp24,000 signals dealers expect further softening before retail demand stabilizes.
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