The precious metal market in Indonesia witnessed a mixed performance on Wednesday, May 20, with significant movements in the prices of gold from two prominent purveyors. PT Aneka Tambang Tbk (Antam), a leading state-owned mining company, reported a notable decrease in its gold prices, while Galeri24 saw a slight uptick.
According to data from the Logam Mulia website, Antam gold prices experienced a decline of Rp 24,000, settling at Rp 2,765,000 per gram for the trading day. This adjustment reflects the ongoing fluctuations within the global and domestic gold markets, influencing investor sentiment and purchasing decisions. Consequently, the Antam buyback price, which is crucial for sellers, also fell by Rp 25,000, reaching Rp 2,569,000 per gram compared to the previous day’s figures.
Adding another layer to the gold investment landscape, new tax regulations have been introduced. Under PMK Number 48 Year 2023, end-consumers are now exempt from Income Tax (PPh) when purchasing gold bars. However, gold businesses are mandated to collect PPh 22 at a rate of 0.25 percent of the selling price. This represents a reduction from the previous regulation, which stipulated a higher rate of 0.45 percent, potentially making gold slightly more attractive for direct purchase.
It is important for potential buyers to note that the mentioned Antam gold prices are specifically applicable at the Butik Emas Graha Dipta Pulo Gadung branch in Jakarta. Prices for Antam gold bullion may vary across different sales outlets and locations, so checking with individual stores is advisable.
Here is a detailed breakdown of Antam gold bar prices for today:
1 gram: Rp 2,765,000
2 grams: Rp 5,470,000
3 grams: Rp 8,180,000
5 grams: Rp 13,600,000
10 grams: Rp 27,145,000
25 grams: Rp 67,737,000
50 grams: Rp 135,395,000
100 grams: Rp 270,712,000
250 grams: Rp 676,515,000
500 grams: Rp 1,352,820,000
1,000 grams: Rp 2,705,600,000
Galeri24 Gold
In contrast to Antam’s trend, Galeri24 gold prices presented a slightly different picture. Its official website indicated a minor increase in price, reaching Rp 2,785,000 per gram as of today. The Galeri24 buyback price for gold stood at Rp 2,610,000 per gram, offering a different selling point for investors in the market.
Below are the detailed prices for Galeri24 gold, as listed on its official website:
1 gram: Rp 2,782,000
2 grams: Rp 5,499,000
5 grams: Rp 13,644,000
10 grams: Rp 27,216,000
25 grams: Rp 67,674,000
50 grams: Rp 135,242,000
100 grams: Rp 270,349,000
250 grams: Rp 674,214,000
500 grams: Rp 1,348,427,000
1,000 grams: Rp 2,696,852,000
Summary
On May 20, the Indonesian gold market showed mixed results as PT Aneka Tambang (Antam) reported a price decrease, while Galeri24 saw a slight increase. Antam’s gold price fell by Rp 24,000 to Rp 2,765,000 per gram, with its buyback price also dropping to Rp 2,569,000 per gram. Conversely, Galeri24’s gold price reached Rp 2,785,000 per gram, with a buyback rate of Rp 2,610,000 per gram.
New tax regulations under PMK Number 48 Year 2023 have also impacted the market, exempting end-consumers from Income Tax (PPh) while setting a reduced PPh 22 rate of 0.25 percent for gold businesses. Buyers are advised that Antam prices may vary by location, as the reported rates are specific to the Butik Emas Graha Dipta Pulo Gadung branch.