Gotrade News - Indonesia's state-owned pawnshop Pegadaian listed Antam 1-gram gold at IDR 2.908 million and UBS 1-gram at IDR 2.802 million on Monday (May 4). Galeri 24 1-gram is priced at IDR 2.788 million, up IDR 2,000 from the previous day.
Market observer Ibrahim Assuaibi projects global gold could break above $5,400 per troy ounce during Q2 2026. The forecast is supported by ongoing geopolitical tensions and global central bank policy expectations.
Key Takeaways
- Antam 1-gram at Pegadaian sits at IDR 2.908 million and UBS 1-gram at IDR 2.802 million on Monday (May 4).
- Galeri 24 1-gram rose IDR 2,000 to IDR 2.788 million from the previous day.
- Analysts forecast global gold breaching $5,400 per troy ounce in Q2 2026.
Spot gold is trading at $4,573.33 per troy ounce, with a weekly correction of around 2.8%. The mild pullback reflects partial easing of Middle East tensions over the weekend.
Pegadaian's listing also shows Antam 0.5-gram at IDR 1.506 million and UBS 0.5-gram at IDR 1.514 million. Galeri 24 0.5-gram is priced at IDR 1.462 million as a smaller-ticket entry option.
Price Drivers
Ibrahim attributes 50% of gold's price action to geopolitical tension, including the Middle East conflict. Iran's claims over the Strait of Hormuz and Israeli operations in southern Lebanon have fuelled safe-haven demand.
Other supportive factors include central bank gold buying and ongoing supply-demand dynamics. Retail investors can track global gold through VanEck Gold Miners ETF (GDX) for mining-stock exposure.
Newmont, the largest US-listed gold miner, also serves as a benchmark for diversification against currency risk. The correlation between gold prices and global mining shares like Newmont (NEM) remains high during bull markets.
Money and commodity market observers note heightened global vigilance since Iran's May 2 statement on the strategic shipping corridor. Gold volatility may persist until US-Iran diplomatic outcomes become clearer.
Indonesian buyers can use Pegadaian listings as a daily reference for physical transactions. For global exposure, gold mining ETFs offer higher liquidity than physical bullion in the local market.
Sources
IDX Channel, Global Gold Could Breach $5,400 in Q2 2026, 2026.
Bloomberg Technoz, Complete List of Pegadaian Gold Prices May 4, 2026, 2026.
