Gotrade News - Indonesian gold prices recorded a sharp decline on Monday (04/20) as Antam gold bars dropped Rp44,000 per gram. The selling price now stands at Rp2,840,000 ($174) per gram, down from Rp2,884,000 per gram previously.
The domestic gold price decline mirrors the 1.9% weekly drop in global gold prices. Spot gold fell to approximately $4,740 per troy ounce as geopolitical tensions escalated in the Strait of Hormuz, one of the world's most critical shipping lanes.
Key Takeaways:
- Antam gold plunged Rp44,000 to Rp2,840,000/gram on Monday (04/20), mirroring a 1.9% global gold decline to $4,740/oz
- Strait of Hormuz military escalation triggered gold sell-offs as investors shifted liquidity toward other assets
- Galeri24 gold moved in the opposite direction, rising to Rp2,886,000/gram, showing pricing divergence among domestic producers
Hormuz Strait Tensions Shake Global Gold Markets
The escalating conflict in the Strait of Hormuz has become the primary catalyst for global commodity market volatility this week. The United States Navy fired upon and seized an Iranian-flagged cargo vessel in the strategically vital waterway.
Iran responded with a stern warning that all vessels approaching the strait would be considered ceasefire violators. Several major shipping operations through the Hormuz Strait have reportedly been canceled following the threat.
Brent crude oil surged approximately 6.8% to around $96 per barrel on supply disruption fears. The energy price spike has intensified inflation concerns already weighing on global financial markets.
According to Kompas, analyst Kyle Rodda from Capital.com explained the gold sell-off phenomenon. Rodda stated that war-driven trading patterns have returned, meaning gold is being liquidated to cover other liquidity needs.
Rising energy prices could force global central banks to maintain elevated interest rates for longer than expected. This makes gold less attractive as yield-bearing assets become more competitive compared to the non-yielding precious metal.
Global gold mining stocks such as Newmont (NEM) are also feeling pressure from the gold price decline. Investors tracking the mining sector can monitor the VanEck Gold Miners ETF (GDX) as a market sentiment indicator.
Antam and Galeri24 Gold Price Breakdown
The Antam gold price list on Monday (04/20) shows declines across all denominations. The 0.5-gram bar is priced at Rp1,470,000 while the 10-gram denomination sells for Rp27,895,000.
For larger denominations, the 100-gram Antam bar is set at Rp278,212,000. The buyback price stands at Rp2,640,000 per gram on the same day.
Interestingly, Galeri24 gold moved in the opposite direction, rising to Rp2,886,000 per gram. According to Kumparan, the Galeri24 buyback price was recorded at Rp2,707,000 per gram.
On the taxation front, gold bar purchases carry a 0.45% income tax for registered taxpayers and 0.9% for unregistered ones. However, under regulation PMK 48/2023, individual consumers are exempt from income tax on gold bar purchases in Indonesia.
The Rp44,000 per gram drop in Antam gold represents one of the largest corrections in recent weeks. Middle East geopolitical conditions showing no signs of easing could continue to influence gold price volatility going forward.
Sources:
Kompas, Harga Emas Dunia Anjlok 1,9 Persen, Ketegangan Selat Hormuz Picu Gejolak Pasar, 2026.
Kumparan, Harga Emas Antam Turun ke Rp 2.840.000/Gram, Galeri24 Naik ke Rp 2.886.000, 2026.
