Gotrade News - Indonesia's state-owned gold producer PT Antam raised its gold bar selling price by Rp40,000 (~$2.50) to Rp2,880,000 (~$180) per gram on Tuesday (04/21). The increase stands out because global spot gold actually declined 0.4% in the same session.
Key Takeaways:
- Antam gold rose Rp40,000 to Rp2.88M/gram (~$180), with buyback price also up Rp50,000 to Rp2.69M/gram
- Domestic pricing diverged from global gold, which fell on US dollar strength and rising oil prices
- Internal factors including daily price adjustments and Antam's trading strategy drove the gap
Domestic Gold Bucks Global Trend
PT Antam, Indonesia's largest state-owned mining company and the dominant retail gold seller, lifted its daily selling price from Rp2,840,000 to Rp2,880,000 per gram. The buyback price, what Antam pays to repurchase bars, also climbed Rp50,000 to Rp2,690,000 per gram.
This divergence is unusual because Antam pricing typically tracks global spot gold closely. According to Bloomberg Technoz, internal factors like daily price recalibration and Antam's own trading strategy explain the disconnect.
Global gold weakened 0.4% as the US dollar strengthened amid rising crude oil prices. A stronger dollar typically pressures gold since the metal is priced in dollars globally.
For investors seeking gold exposure through US-listed instruments, SPDR Gold Shares tracks physical gold prices directly. Gold miners like Newmont offer leveraged exposure to gold price movements.
Price Breakdown by Weight
Smaller denominations remain popular among Indonesian retail buyers, with the 0.5-gram bar at Rp1,490,000 (~$93). The 5-gram bar sells for Rp14,175,000 (~$886) and the 10-gram bar for Rp28,295,000 (~$1,768).
Institutional-sized bars show economies of scale, with the 100-gram bar at Rp282,212,000 (~$17,638). The 1-kilogram bar commands Rp2,820,600,000, roughly $176,288 at current exchange rates.
As reported by Kompas, purchase tax (PPh 22) applies at 0.45% for registered taxpayers. Without a tax ID (NPWP), the rate doubles to 0.9%.
The Rp40,000 single-day jump signals sustained domestic gold momentum despite global headwinds. Investors should watch whether this domestic-global price gap narrows or widens in coming sessions.
Sources: Kompas, Harga Emas Antam Hari Ini 21 April Naik Rp 40.000 Per Gram, 2026 Bloomberg Technoz, Harga Emas Antam Naik Saat Emas Dunia Malah Turun, 2026 SINDOnews, Kilau Emas Antam Semakin Menyala Hari Ini Naik Rp40.000 Per Gram, 2026
