Jakarta. Gold prices in Indonesia surged again on Wednesday as Antam bullion jumped sharply, extending its strong rally this year amid persistent global economic uncertainty.

Data from Logam Mulia showed that Antam gold rose Rp 40,000 to Rp 3,087,000 per gram on Wednesday, up from Rp 3,047,000 a day earlier.

The precious metal has delivered a strong performance in 2026, gaining roughly 24% year-to-date. At the beginning of the year on Jan. 1, Antam gold was priced at only Rp 2,488,000 per gram.

Despite the recent surge, the current level still sits below the all-time high of Rp 3,168,000 per gram, recorded on Jan. 29, 2026.

Meanwhile, Antam’s buyback price, the level at which the company repurchases gold from customers, increased Rp 45,000 to Rp 2,847,000 per gram on Wednesday.

Antam Gold Price (Wednesday, Mar. 11):

• 0,5 gram: Rp 1,593,000
• 1 gram: Rp 3,087,000
• 2 gram: Rp 6,114,000
• 3 gram: Rp 9,146,000
• 5 gram: Rp 15,210,000
• 10 gram: Rp 30,365,000
• 25 gram: Rp 75,787,000
• 50 gram: Rp 151,495,000
• 100 gram: Rp 302,912,000
• 250 gram: Rp 757,015,000
• 500 gram Rp 1,513,820,000

Globally, gold continued trading near the $5,100 per troy ounce level, moving in a volatile consolidation pattern as investors navigate mounting uncertainty in the global economy.

As of Mar. 10, 2026 at 11:22 p.m. New York time, spot gold was quoted at $5,210.48 per ounce, gaining 115.05 points or 2.26%, according to data from goldprice.org.

Market observers say the rally may still have room to run. Analysts cited by Kitco pointed to structural economic changes and renewed demand for safe-haven assets as key forces pushing gold prices higher.

Byron King, an editor at Paradigm Press Group, argued that despite the sharp gains in recent years, the current rally may still be in its early stages.

King suggested that investors who believe they missed gold’s rise from around $2,000 to $5,000 per ounce should instead focus on the potential for future gains rather than past price movements. In his view, the previous surge represented only the first phase of a broader cycle, and another significant leg higher could still unfold.

He attributed the rally largely to growing concerns over the long-term stability of fiat currencies and the rapidly expanding debt burden of the United States.

US government debt has approached $39 trillion, a situation King said reinforces the importance of holding physical gold as a store of value. Owning gold coins, he noted, can help preserve purchasing power over time.

King also linked the bullish outlook for gold to a broader transformation in the global economy, marked by a shift toward a more multipolar world and intensified competition for strategic resources.

Rising government spending on critical minerals projects, including copper, rare earth elements, tungsten, and antimony, has also strengthened interest in tangible assets, with King emphasizing that investors are increasingly turning back to real assets rather than purely financial instruments.