Antam Gold Prices Plummet in Indonesia Amid Geopolitical Tensions

Gold prices in Indonesia took a hit on Wednesday (8/19), dropping Rp50,000 to Rp2.645 million per gram for Antam gold, while the buyback price slid to Rp2,505,000 per gram.

This decline erased the previous day's gain of Rp18,000, bringing prices back down to their lowest levels in recent days.

Galeri24 gold, however, bucked the trend and rose Rp2,000 to Rp2.676 million per gram, with a buyback price of Rp2,527,000 per gram.

Currency and commodities analyst Ibrahim Assuaibi projects that precious metal prices will trade in the range of Rp2.52 million to Rp2.83 million per gram over the coming week due to geopolitical conflicts in the Middle East and Eastern Europe, Federal Reserve interest rate policy, and global central bank gold demand.