Gotrade News - Antam gold fell Rp16,000 to Rp2.809 million per gram on Monday (27/04), dragging the entire Indonesian retail bullion strip lower. UBS and Galeri 24 Pegadaian also softened as the rally lost momentum.
The decline tracked rising real yields after delayed expectations for a Federal Reserve rate cut. Geopolitical risk in the Middle East is still cushioning a deeper correction in safe-haven demand.
Key Takeaways:
- Antam dropped Rp16,000 per gram to Rp2.809 million, with buyback at Rp2.620 million
- UBS fell Rp11,000 and Galeri 24 Pegadaian fell Rp10,000 per gram
- Higher real yields are pressuring gold while Middle East tension provides a floor
Antam's selling price for a 1-gram bar was Rp2.809 million, with the buyback rate at Rp2.620 million per gram. The 10-gram bar traded at Rp27.585 million and the 1-kilogram bar at Rp2.749 billion.
Antam sold through Pegadaian was priced at Rp2.922 million per gram, also down Rp16,000. UBS at Pegadaian traded at Rp2.868 million per gram, a Rp11,000 decline versus the prior session.
Galeri 24 at Pegadaian was quoted at Rp2.810 million per gram, down Rp10,000 from the previous day. The uniform pullback reflects a broad-based softening in regional retail bullion demand.
Higher real yields after delayed Fed rate-cut expectations remain the central macro driver. Investors are reweighting gold as yield-bearing assets become more competitive on a relative basis.
Middle East tensions, including the Strait of Hormuz situation and stalled U.S. Iran dialogue, continue to provide a floor under the market. The geopolitical risk premium prevented a sharper correction during the session.
For retail investors, the pullback offers a checkpoint to review gold allocation within their portfolios. Upcoming U.S. economic data will shape the next leg of rate expectations and, by extension, gold's direction.
Hartadinata's base price was Rp2.714 million per gram with a buyback rate of Rp2.578 million. Spreads across producers continue to reflect production costs and distribution margins.
