Jakarta. Antam gold prices continued to slide on Tuesday, falling Rp 4,000 to Rp 2,988,000 ($175.98) per gram, extending losses from the previous session as global market dynamics tempered bullion’s safe-haven appeal.

The decline follows Monday’s drop to Rp 2,992,000 per gram. Despite the recent pullback, Antam gold has still surged around 20% so far in 2026, up from Rp 2,488,000 per gram at the start of the year. Prices previously hit an all-time high of Rp 3,168,000 per gram on Jan. 29.

Buyback prices also moved lower, dropping Rp 4,000 to Rp 2,740,000 per gram.

Antam Gold Price (Tuesday, Mar. 17):

• 0,5 gram: Rp 1,544,000
• 1 gram: Rp 2,988,000
• 2 gram: Rp 5,916,000
• 3 gram: Rp 8,849,000
• 5 gram: Rp 14,715,000
• 10 gram: Rp 29,375,000
• 25 gram: Rp 73,312,000
• 50 gram: Rp 146,545,000
• 100 gram: Rp 293,012,000
• 250 gram: Rp 732,265000
• 500 gram Rp 1,464,320,000

Amid escalating tensions in the Middle East, gold prices have remained volatile, testing support levels near $5,000 per troy ounce. However, the broader uptrend is seen as intact.

Market strategists suggest the recent weakness is not unexpected. Christopher Vecchio, head of futures and forex strategy at Tastylive, indicated that the current geopolitical crisis has triggered a liquidity-driven phase, limiting gold’s upside in the near term, as cited by Kitco.

He explained that while gold is typically viewed as a safe-haven asset, the early stages of major crises tend to favor cash, particularly the US dollar, as investors prioritize liquidity. During this phase, multiple asset classes, including gold, US Treasuries, and equities, can come under pressure, while the dollar remains resilient due to strong demand for global reserve liquidity.

Still, this liquidity preference is expected to be temporary. Historically, gold tends to underperform in the initial phase of crises before rebounding strongly once market stress stabilizes. Similar patterns were observed during the early stages of the global financial crisis and the Covid-19 pandemic, when gold initially weakened before outperforming other assets.

Separately, JP Morgan recently projected gold prices could climb toward $6,300 per troy ounce by year-end, supported by sustained demand from central banks and global investors.