Jakarta. Antam gold prices tumbled sharply on Monday as global bullion weakened, with the benchmark one-gram bar dropping Rp 55,000 to Rp 3,004,000 ($176.86) per gram, according to data from Logam Mulia.

The decline erased part of last week’s gains, when Antam gold had surged Rp 35,000 to Rp 3,059,000 per gram on Friday.

Despite the drop, Antam gold remains significantly higher this year. Prices have climbed about 20% since the start of 2026, when bullion stood at Rp 2,488,000 per gram on Jan. 1.

The all-time high for Antam gold was recorded at Rp 3,168,000 per gram on Jan. 29, 2026.

Meanwhile, the buyback price,  the level at which Logam Mulia repurchases gold from customers,  also plunged on Monday, falling Rp 65,000 to Rp 2,757,000 per gram.

Antam Gold Price (Monday, Mar. 9):

• 0,5 gram: Rp 1,552,000
• 1 gram: Rp 3,004,000
• 2 gram: Rp 5,948,000
• 3 gram: Rp 8,897,000
• 5 gram: Rp 14,795,000
• 10 gram: Rp 29,535,000
• 25 gram: Rp 73,712,000
• 50 gram: Rp 147,345,000
• 100 gram: Rp 296,612,000
• 250 gram: Rp 741,265,000
• 500 gram Rp 1,482,320,000

Global gold prices also weakened during Monday trading, pressured by a stronger US dollar and mounting inflation concerns. Spot gold fell 1.57%, or 81.16 points, to $5,090.76 per ounce as of Mar. 9, 2026 at 12:41 a.m. New York time.

Andy Nugraha, an analyst at Dupoin Futures, said bullion remains under pressure amid the strengthening dollar and rising US Treasury yields. Technical indicators, particularly on the hourly timeframe, still point to a bearish trend. He noted that the current candlestick formation combined with moving average indicators suggests selling pressure continues to dominate the market, indicating the downward momentum could persist unless a strong catalyst emerges to reverse the trend in the near term.

From a fundamental perspective, Andy said markets are also monitoring external factors influencing gold, including a surge in crude oil prices that has intensified inflation concerns in the United States. Higher inflation could prompt the Federal Reserve to keep interest rates elevated for longer, a scenario that typically weighs on gold because the metal does not offer yield like interest-bearing assets. As a result, investors often shift toward dollar-denominated instruments that provide more attractive returns.

Market participants are also awaiting the release of the US Consumer Price Index (CPI) data scheduled for Wednesday, which could provide fresh clues on the Fed’s monetary policy trajectory. Many economists expect the US central bank to keep rates unchanged at its March 17–18 meeting, with several analysts projecting that potential rate cuts may only begin around mid-2026, likely in June or July.

Andy added that weaker-than-expected US labor data had briefly supported gold prices earlier. February’s Nonfarm Payrolls report showed the US economy lost about 92,000 jobs, far below market expectations for roughly 59,000 new jobs.

The unemployment rate also rose to 4.4% from 4.3% in January. A softer labor market could temporarily weigh on the US dollar and offer some support to commodities priced in dollars, including gold.

However, overall pressure on gold remains significant. Rising US Treasury yields and broad dollar strength are expected to push bullion toward a weekly decline approaching 2.5%.

Additional economic signals, such as a 0.2% monthly contraction in US retail sales, have also added uncertainty to the global economic outlook.

Technically, Andy said gold could fall further toward the support level of around $4,960 per troy ounce if bearish pressure continues. Conversely, if prices rebound, the nearest resistance level is projected at around $5,139 per troy ounce.

Given the mix of technical and fundamental factors, Andy expects gold prices to remain volatile but biased to the downside in the near term. He advised investors and traders to closely monitor US economic data, the Federal Reserve’s policy direction, and global geopolitical developments that could trigger volatility in commodity markets, particularly gold.