Indonesia’s precious metals market witnessed a modest but notable uptick this past week, from Monday, April 6, to Sunday, April 12. According to the official Logam Mulia website, the price of Antam gold registered a slight increase of Rp 29,000, moving from Rp 2,831,000 to Rp 2,860,000 per gram by the week’s end. This positive trend also extended to the Antam gold buyback price, which saw a more significant jump of Rp 77,000, rising from Rp 2,550,000 to Rp 2,627,000 per gram over the same period.
Meanwhile, Galeri24 gold prices experienced a more fluctuating but ultimately upward trajectory throughout the week. Its price edged up by Rp 6,000, starting at Rp 2,870,000 on Monday and settling at Rp 2,876,000 per gram by Sunday. The Galeri24 buyback price similarly climbed, increasing by Rp 5,000 from Rp 2,692,000 to Rp 2,697,000 per gram.
Delving into the daily movements, the week commenced on Monday, April 6, with Antam gold priced at Rp 2,831,000 per gram, while Galeri24 gold stood slightly higher at Rp 2,870,000 per gram. By Tuesday, April 7, Antam’s price had risen to Rp 2,850,000 per gram, though Galeri24’s price saw a minor dip to Rp 2,860,000 per gram.
Mid-week, on Wednesday, April 8, Antam gold experienced a considerable surge, jumping Rp 50,000 to reach Rp 2,900,000 per gram. Galeri24 also saw an increase, with its price reaching Rp 2,865,000 per gram. However, this momentum shifted by Thursday, April 9, as Antam gold pulled back to Rp 2,850,000 per gram, while Galeri24 defied the trend by climbing further to Rp 2,908,000 per gram.
As the trading week concluded on Friday, April 10, Antam gold managed a slight recovery, inching up to Rp 2,857,000 per gram. In contrast, Galeri24’s price retreated to Rp 2,865,000 per gram. Moving into the weekend, Saturday, April 11, saw Antam gold continue its gentle ascent to Rp 2,860,000 per gram, while Galeri24 also rose to Rp 2,876,000 per gram. Finally, on Sunday, April 12, both Antam and Galeri24 gold prices remained stable, holding at Rp 2,860,000 and Rp 2,876,000 per gram, respectively.
In a significant update for gold investors and consumers, Ministerial Regulation (PMK) Number 48 of 2023 stipulates that end consumers are now exempt from Income Tax (PPh) when purchasing gold bars. However, gold entrepreneurs are still mandated to collect PPh 22 at a rate of 0.25 percent of the selling price, a reduction from the previous regulation’s 0.45 percent, aiming to streamline transactions in the Indonesian gold market.
It is important to note that the gold prices detailed above are specifically applicable at the Graha Dipta Pulo Gadung Gold Boutique in Jakarta. Prices for Antam gold at other sales outlets may vary.
Below are the detailed Antam gold bar prices as of today, Sunday, April 12:
- 1 gram: Rp 2,860,000
- 2 gram: Rp 5,660,000
- 5 gram: Rp 14,075,000
- 10 gram: Rp 28,095,000
- 25 gram: Rp 70,112,000
- 50 gram: Rp 140,145,000
- 100 gram: Rp 280,212,000
- 250 gram: Rp 700,265,000
- 500 gram: Rp 1,400,320,000
- 1,000 gram: Rp 2,800,600,000
Galeri24 Gold
Here are the detailed Galeri24 gold prices from its official website as of today, Sunday, April 12:
- 1 gram: Rp 2,876,000
- 2 gram: Rp 5,683,000
- 5 gram: Rp 14,102,000
- 10 gram: Rp 28,130,000
- 25 gram: Rp 69,944,000
- 50 gram: Rp 139,778,000
- 100 gram: Rp 279,418,000
- 250 gram: Rp 696,827,000
- 500 gram: Rp 1,393,654,000
- 1,000 gram: Rp 2,787,308,000
Summary
During the week of April 6-12, Indonesia’s precious metals market saw increases in gold prices. Antam gold price rose by Rp 29,000 per gram, reaching Rp 2,860,000, while its buyback price significantly climbed by Rp 77,000. Galeri24 gold also experienced an upward trend, increasing by Rp 6,000 to Rp 2,876,000 per gram, with its buyback price rising by Rp 5,000.
Galeri24 gold prices showed more fluctuation throughout the week, though ultimately ending higher. A significant update for investors is Ministerial Regulation Number 48 of 2023, which exempts end consumers from Income Tax when purchasing gold bars. Gold entrepreneurs now collect PPh 22 at a reduced rate of 0.25%.