Indonesian Gold Prices Stagnate Amid Sticky Transaction Spread

Retail physical gold prices in Indonesia remained flat over the weekend, as the country's state-backed precious metals processor, PT Aneka Tambang Tbk (Antam), maintained its rigid pricing architecture.

The official buyback rate for certified gold bars issued by Antam through its retail distribution arm Logam Mulia stayed fixed at Rp 2,454,000 per gram, while the retail price remained unchanged at Rp 2,604,000 per gram.

This pricing structure binds local and foreign retail savers into disciplined holding periods, making it difficult to achieve short-term liquidity. The primary barrier is a substantial transactional spread of 5.76%, which translates to an immediate Rp 150,000 per gram haircut for any retail market participant.