Indonesia's Antam Gold Price Inches Up as Transaction Friction Bites

PT Aneka Tambang Tbk (Antam), Indonesia's state-backed precious metals processor, has reported a marginal increase in retail physical gold prices. As of Wednesday, September 16th, 2026, official spot selling rates at Antam's Logam Mulia retail network settled at Rp 2,593,000 per gram, up from the previous day by Rp 1,000.

The state buyback rate also ticked upward by Rp 1,000 to hold at Rp 2,438,000 per gram. The price appreciation is overshadowed by institutional transaction friction, with a gap of Rp 155,000 per gram between purchasing new bars and liquidating existing inventory.

This pricing structural gap subjects retail participants to an immediate 5.98% transactional haircut. Mathematically, this means that an investor buying certified bars in the morning and forcing an immediate liquidation later the same day would automatically realize a nominal capital drawdown of nearly 6.0%.