Jakarta. Antam gold prices reversed course on Thursday, falling Rp 50,000 to Rp 2,850,000 ($166.87) per gram, erasing the previous day’s gain as domestic pricing adjusted despite a firmer global backdrop.

The decline follows Wednesday’s jump of Rp 50,000, when prices briefly reached Rp 2,900,000 per gram.

So far this year, Antam gold has still climbed about 14%, up from Rp 2,488,000 per gram at the start of January. Prices remain below their all-time high of Rp 3,168,000 per gram recorded on Jan. 29, 2026.

Meanwhile, Antam’s buyback price dropped more sharply, sliding Rp 59,000 to Rp 2,605,000 per gram.

Antam Gold Price (Tuesday, Mar. 24):

• 0,5 gram: Rp 1,475,000
• 1 gram: Rp 2,850,000
• 2 gram: Rp 5,640,000
• 3 gram: Rp 8,435,000
• 5 gram: Rp 14,025,000
• 10 gram: Rp 27,995,000
• 25 gram: Rp 69,862,000
• 50 gram: Rp 139,645,000
• 100 gram: Rp 279,212,000
• 250 gram: Rp 697,765,000
• 500 gram Rp 1,395,320,000

Globally, gold prices moved higher, with spot gold rising 0.29% to $4,719.35 per troy ounce after briefly surging more than 3% to its highest level since March 19. The rally came as geopolitical tensions eased following a temporary two-week ceasefire agreement between the United States and Iran, which weighed on the US dollar and oil prices.

According to FTSE Russell’s Head of Global Investment Research Indrani De through Kitco, gold’s recent movement reflects a tug-of-war between competing macroeconomic forces reshaping short-term investor behavior.

She indicated that while geopolitical uncertainty continues to support gold demand, investors are increasingly weighing this against short-term pressures. Rising energy prices linked to Middle East disruptions have fueled inflation concerns, reinforcing expectations of higher interest rates.

In that environment, the appeal of gold as a non-yielding asset becomes more challenged, as investors face higher opportunity costs compared to interest-bearing instruments.