Jakarta. The price of Antam gold bars extended its decline on Friday, falling Rp 21,000 to Rp 3,021,000 per gram, as global bullion prices weakened amid a stronger US dollar and fading expectations of Federal Reserve rate cuts.

The latest drop follows a sharper fall on Thursday, when Antam gold plunged Rp 45,000 to Rp 3,042,000 per gram.

Despite the recent correction, Antam gold prices remain significantly higher this year. Since Jan. 1, when the metal was priced at Rp 2,488,000 per gram, the price has climbed about 21% year-to-date. The metal previously reached an all-time high of Rp 3,168,000 per gram on Jan. 29, 2026.

The buyback price of Antam gold also declined by Rp 21,000 on Friday to Rp 2,783,000 per gram.

Antam Gold Price (Friday, Mar. 13):

• 0,5 gram: Rp 1,560,500
• 1 gram: Rp 3,021,000
• 2 gram: Rp 5,982,000
• 3 gram: Rp 8,948,000
• 5 gram: Rp 14,880,000
• 10 gram: Rp 29,705,000
• 25 gram: Rp 74,137,000
• 50 gram: Rp 148,195,000
• 100 gram: Rp 296,312,000
• 250 gram: Rp 740,515,000
• 500 gram Rp 1,480,820,000

Globally, gold prices also moved lower on Thursday, slipping more than 1% as the US dollar strengthened and expectations of a Federal Reserve rate cut diminished amid rising inflation concerns linked to tensions involving Iran.

Data from goldprice.org showed spot gold stood at $5,111.78 per ounce, down 60.23 points or 1.14% as of Mar. 12 at 10:59 a.m. New York time.

A stronger US dollar — which has gained for three consecutive sessions — has been one of the key factors weighing on gold. When the dollar appreciates, gold becomes more expensive for investors holding other currencies, typically dampening demand.

Phillip Streible, chief market strategist at Blue Line Futures, noted that the stronger dollar index, rising US Treasury yields and the reduced likelihood of interest rate cuts have collectively created headwinds for gold prices.

Still, he indicated that geopolitical tensions in the Middle East continue to drive some safe-haven demand for the precious metal.

Regional tensions escalated after two oil tankers reportedly caught fire in Iraqi waters in what was suspected to be an escalation of Iranian attacks targeting energy routes in the Middle East. The incident pushed global oil prices sharply higher.

Iran’s newly installed supreme leader, Ayatollah Mojtaba Khamenei, has also vowed retaliation for the deaths of what he called martyrs, while maintaining the closure of the Strait of Hormuz and threatening strikes on US military bases.

Higher crude oil prices could fuel inflation by raising transportation and production costs. In such conditions, gold is often seen as a hedge against inflation. However, elevated interest rates typically weigh on gold prices as investors shift toward assets that offer yields.

Even so, Streible suggested gold’s outlook could remain relatively supportive if the surge in oil prices is eventually contained.