Jakarta, ThedailyID — PT Aneka Tambang Tbk or Antam lowered its gold prices again on Monday, extending a weakening trend seen since last week.
The price of Antam’s 24-karat gold fell by Rp20,000 to Rp2,819,000 per gram, or around $173 based on current exchange rates.
The decline reflects continued fluctuations in Indonesia’s domestic gold market over recent days.
According to Antam’s Logam Mulia data, 0.5-gram gold products now sell for Rp1,459,500. Meanwhile, 10-gram bars cost Rp27,685,000.
For larger purchases, the 1-kilogram gold bar now carries a price tag of Rp2.759 billion. The figure also declined compared with the previous week.
Over the past seven days, Antam gold prices moved within a range of Rp2,796,000 to Rp2,839,000 per gram. Selling pressure continued to dominate market activity during that period.
The monthly trend also showed weakness. During the last month, prices mostly hovered between Rp2,839,000 and Rp2,850,000 per gram.
Antam also lowered its buyback price by Rp18,000 per gram. The current buyback value stands at Rp2,626,000 per gram.
The buyback price refers to the amount customers receive when reselling gold to Antam. Analysts said lower buyback prices could affect public interest in selling gold holdings.
Indonesia’s government still imposes taxes on certain gold buyback transactions. Transactions above Rp10 million remain subject to Article 22 income tax at a rate of 1.5 percent.
Authorities automatically deduct the tax during the transaction process.
