Jakarta. Antam’s gold bar prices surged to a fresh record high on Wednesday, jumping Rp 52,000 to Rp 2,968,000 ($177.65) per gram, rebounding sharply after a brief pullback earlier in the week.

Data from Antam’s Logam Mulia website showed that prices had slipped to Rp 2,916,000 per gram on Tuesday, following Monday’s rally to Rp 2,917,000,  the previous all-time high.

So far this year, Antam gold prices have climbed more than 17%, up from Rp 2,488,000 per gram at the start of January, reflecting strong investor demand for safe-haven assets amid persistent global uncertainty.

Antam’s buyback price also rose sharply on Wednesday, increasing Rp 50,000 to Rp 2,799,000 per gram.

Antam Gold Price (Wednesday, Jan. 28):

• 0,5 gram: Rp 1,534,000
• 1 gram: Rp 2,968,000
• 2 gram: Rp 5,876,000
• 3 gram: Rp 8,789,000
• 5 gram: Rp 14,615,000
• 10 gram: Rp 29,175,000
• 25 gram: Rp 72,812,000
• 50 gram: Rp 145,545,000
• 100 gram: Rp 291,012,000
• 250 gram: Rp 727,265,000
• 500 gram Rp 1,454,320,000

On the global market, gold prices extended gains as bullish sentiment continued to build. Data from goldprice.org showed spot gold reaching $5,256.17 per ounce as of early Wednesday New York time, up $171.21 or 3.37%.

In a market note issued Tuesday, Saxo Bank’s head of commodity strategy Ole Hansen said speculative momentum could drive gold prices as high as $5,500 per ounce. As reported by Kitco, Hansen noted that investor demand remains fueled by concerns over rising US fiscal debt, a weakening dollar, geopolitical uncertainty, and lingering inflation pressures.

However, he also cautioned that many of these risks have yet to fully materialize. While US debt levels continue to climb, market reactions have so far been reflected mainly in a steeper yield curve rather than systemic stress. The dollar has softened but remains far from a collapse, and geopolitical tensions have not escalated into more disruptive events.

Hansen added that although safe-haven demand may gradually ease, he does not expect a major correction in gold prices in the near term.

Meanwhile, the US dollar has been hovering near its weakest level in almost four years amid a growing confidence crisis. Pressure on the greenback intensified after President Donald Trump publicly described the dollar’s level as “strong,” even as markets questioned whether it had weakened too far.

US market sentiment has also been weighed down by declining consumer confidence. The US consumer confidence index fell in January to its lowest level in more than 11.5 years, driven by concerns over a cooling labor market and persistent price pressures.

Trump has also signaled that he will soon announce a new Federal Reserve chair and predicted interest rates would fall once the new leadership takes office. Despite this, markets broadly expect the Fed to keep rates unchanged at its January policy meeting, which is currently underway.