Jakarta. Gold prices in Indonesia extended their losses on Wednesday, with Antam bars tumbling sharply after two straight days of declines as a stronger US dollar pressured global bullion prices.

Gold bars produced by Aneka Tambang, or Antam, fell Rp 77,000 to Rp 3,045,000 ($179.74) per gram on Wednesday. On Tuesday, the Antam gold price stood at Rp 3,122,000.

The buyback price, the rate at which Antam repurchases gold from customers, also dropped Rp 107,000 to Rp 2,794,000 per gram.

Despite the recent pullback, Antam gold remains up roughly 22% year-to-date. On Jan. 1, the precious metal was priced at Rp 2,488,000 per gram. Its all-time high stands at Rp 3,168,000 per gram, recorded on Jan. 29, 2026.

Antam Gold Price (Wednesday, Mar. 4):

• 0,5 gram: Rp 1,572,500
• 1 gram: Rp 3,045,000
• 2 gram: Rp 6,030,000
• 3 gram: Rp 9,020,000
• 5 gram: Rp 15,000,000
• 10 gram: Rp 29,945,000
• 25 gram: Rp 74,737,000
• 50 gram: Rp 149,395,000
• 100 gram: Rp 298,712,000
• 250 gram: Rp 746,515,000
• 500 gram Rp 1,492,820,000

Global gold prices also came under pressure as the US dollar strengthened. According to Goldprice.org, spot gold stood at $5,164.97 per ounce as of 9:35 p.m. New York time on March 3, down $131.96 or 2.49%.

The stronger dollar pushed spot gold to its lowest level since Feb. 20, briefly sliding to around $4,996 per ounce. Gold typically acts as a hedge during periods of uncertainty and inflation risk, but sharp gains in the dollar often weigh on bullion prices.

The US dollar, also widely viewed as a safe-haven asset, strengthened significantly, making dollar-denominated gold more expensive for holders of other currencies. At the same time, US Treasury yields rose for a second straight session, further pressuring the precious metal.

Still, analysts believe the broader rally may not be over. Senior Market Strategist at RJO Futures Bob Haberkorn said safe-haven flows driven by geopolitical risks could continue to support gold and silver prices ahead, as cited by Reuters.

Markets remain cautious after extreme volatility on Jan. 29, when gold briefly hit a record high of $5,594.82 per ounce before plunging sharply over the following two sessions.

Geopolitical tensions also remain elevated. The Iran conflict entered its fourth day after explosions struck Tehran and Beirut. A senior official from Iran’s Revolutionary Guard said on Monday that the Strait of Hormuz had been closed.

The statement triggered a surge of more than 8% in global crude oil prices on Tuesday.

The development could add further inflation pressure and delay expectations of US Federal Reserve rate cuts, a factor that may temporarily reduce gold’s appeal in the near term.