Jakarta. Gold bar prices from Aneka Tambang (ANTM) climbed for a second straight day on Tuesday, tracking global bullion’s move to a six-week high on growing expectations of a US Federal Reserve rate cut and a weaker dollar.

Antam’s benchmark one-gram gold bar was quoted at Rp 2,425,000 ($1,457) on Tuesday, up Rp 10,000 from the previous day. Data from the Logam Mulia website showed the price had already risen Rp 2,000 on Monday to Rp 2,415,000 per gram.

The latest gains bring Antam gold closer to its all-time high of Rp 2,487,000 per gram, which was recorded on Oct. 21, 2025.

Antam’s buyback price on Tuesday, December 2, also strengthened by Rp 10,000 to Rp 2,286,000 per gram.

According to the Central Statistics Agency (BPS), the upswing in gold prices has persisted through November, making gold one of the key contributors to November inflation.

“Gold has posted inflation for 27 consecutive months. Jewelry gold inflation in November reached 3.99 percent with a 0.08 percent contribution. This rate was lower than in October,” BPS Deputy for Distribution and Services Statistics Pudji Ismartini said during a press briefing in Jakarta on Monday.

Antam Gold Price (Tuesday, Dec. 2):

• 0,5 gram: Rp 1,262,500
• 1 gram: Rp 2,425,000
• 2 gram: Rp 4,790,000
• 3 gram: Rp 7,160,000
• 5 gram: Rp 11,900,000
• 10 gram: Rp 23,745,000
• 25 gram: Rp 59,237,000
• 50 gram: Rp 117,895,000
• 100 gram: Rp 235,712,000
• 250 gram: Rp 589,015,000
• 500 gram Rp 1,177,820,000

In global markets, gold climbed back to its highest level in about six weeks in Monday trading, supported by expectations of a Fed rate cut in December and a softer dollar.

As of December 1, 2025 at 9:38 p.m. New York time, the gold price stood at $4,219, up 0.06 points, according to data from goldprice.org. Spot gold was last up 0.31 percent at $4,235.83 per troy ounce after briefly touching $4,264.68, its highest level since October 21. US gold futures for February delivery settled 0.5 percent higher at $4,274.80.

Silver also rallied, jumping 2.53 percent to $57.93 per ounce after hitting a fresh all-time high of $58.83 earlier in the session. The white metal has now surged more than 100 percent so far this year.

Futures markets are currently pricing in about an 87 percent probability that the Fed will cut interest rates in December, helped by weaker US economic data and dovish remarks from Fed officials, including Governor Christopher Waller and New York Fed President John Williams.

A decline in the US dollar to a two-week low has added further support to precious metals by making gold cheaper for holders of other currencies.

Investors are now looking ahead to a series of key US data releases this week, including the November ADP employment report on Wednesday and September personal consumption expenditures (PCE) price data, the Fed’s preferred inflation gauge, due Friday.

Markets are also watching comments from Fed Chair Jerome Powell on Monday night, alongside political signals from Washington. White House economic adviser Kevin Hassett has said he is ready to serve if selected, while US Treasury Secretary Scott Bessent has indicated that the name of a new Fed chair could be announced before Christmas.