Jakarta. Indonesia’s state-run gold producer Aneka Tambang (Antam) slashed its gold bar prices by Rp 45,000 on Tuesday to Rp 2,282,000 ($137.26) per gram, extending losses from a sharp drop a day earlier.

According to data from the company's website Logammulia.com, Antam’s benchmark one-gram gold price had already plunged Rp 23,000 on Monday to Rp 2,327,000 per gram.

The decline followed a global gold sell-off, with bullion prices crashing below the psychological level of $4,000 per troy ounce on Monday. The drop came as easing trade tensions between the United States and China dampened demand for the safe-haven asset.

Trade negotiators from both nations reportedly reached a framework agreement over the weekend, including a delay in US tariff hikes and the cancellation of China’s planned export controls on rare earth materials.

Investors are also turning their attention to the US Federal Reserve’s policy meeting this Wednesday, Oct. 29, at a local time. Market surveys suggest a 97 percent probability that the Fed will cut rates by 25 basis points, a move that typically supports non-yielding assets like gold.

Antam reached an all-time high, stood at Rp 2,487,000 per gram, recorded on Oct. 21, 2025.

Meanwhile, Antam’s buyback price, the rate at which the company repurchases gold from customers, also tumbled Rp 45,000 to Rp 2,147,000 per gram on Tuesday.

Antam Gold Price Today (Tuesday, Oct. 28):

• 0,5 gram: Rp 1,191,000 
• 1 gram: Rp 2,282,000
• 2 gram: Rp 4,514,000 
• 3 gram: Rp 6,753,000
• 5 gram: Rp 11,225,000 
• 10 gram: Rp 22,370,000 
• 25 gram: Rp 55,760,000 
• 50 gram: Rp 111,355,000 
• 100 gram: Rp 222,560,000 
• 250 gram: Rp 556,090,000 
• 500 gram: Rp 1,111,900,000
• 1.000 gram: Rp 2,222,600,000 (dropped 2.02 percent)

Under Finance Ministry Regulation (PMK) No. 34/PMK.10/2017, Antam imposes a 0.45 percent income tax (PPh 22) on gold purchases for holders of a taxpayer ID (NPWP), or 0.9 percent for non-holders.

For gold buybacks exceeding Rp 10 million, a 1.5 percent PPh 22 applies to NPWP holders and 3 percent for non-holders, deducted directly from the transaction value.

In the global market, spot gold was quoted at $3,991 per ounce, down 2.97 percent or 122.31 points, according to data from goldprice.org.