Jakarta. Gold prices in Indonesia extended their rally on Thursday, with Antam bullion hitting a fresh all-time high for the fourth consecutive day, tracking record gains in global markets amid rising geopolitical and economic uncertainty.

Antam’s one-gram gold bar climbed Rp 10,000 to Rp 2,675,000 ($158.57) per gram on Thursday, according to Logam Mulia data.

The latest increase followed Wednesday’s Rp 13,000 jump to Rp 2,665,000 per gram, which had already marked the highest level since Jan. 12.

Antam’s gold buyback price also rose Rp 8,000 to Rp 2,521,000 per gram.

Antam Gold Price (Thursday, Jan. 15):

• 0,5 gram: Rp 1,387,000
• 1 gram: Rp 2,675,000
• 2 gram: Rp 5,290,000
• 3 gram: Rp 7,910,000
• 5 gram: Rp 13,150,000
• 10 gram: Rp 26,245,000
• 25 gram: Rp 65,487,000
• 50 gram: Rp 130,895,000
• 100 gram: Rp 261,712,000
• 250 gram: Rp 654,015,000
• 500 gram Rp 1,307,820,000

The domestic surge mirrored global bullion prices, which also touched record highs on Wednesday as investors flocked to safe-haven assets. According to goldprice.org, spot gold rose 11.45 points, or 0.25%, to $4,603.14 per ounce as of Jan. 14 at 10 p.m. New York time.

Historically, gold, which offers no interest yield, tends to perform well in periods of low interest rates and heightened uncertainty, both of which are again dominating market sentiment. Geopolitical risks intensified after Iran warned neighboring countries hosting United States forces that it would strike American bases if Washington intervenes in Iran’s domestic turmoil.

Tensions were further fueled by remarks from Donald Trump, who reiterated his demand that the US take control of Greenland, prompting diplomatic pushback from Denmark and Greenland.

On the economic front, US retail sales data for November beat expectations, while producer prices met monthly forecasts but came in higher on an annual basis, following weaker-than-expected core inflation data for December. Despite the mixed signals, markets continue to price in two interest rate cuts by the Federal Reserve in 2026.

Concerns over the Fed’s independence have also resurfaced after several global central banks voiced support for Fed Chair Jerome Powell, following reports of potential legal threats from the Trump administration, adding another layer of uncertainty that has kept gold firmly in demand.