Jakarta.  Gold prices in Indonesia rebounded on Wednesday, with Antam bullion nearing the Rp 3 million mark again as global uncertainty and elevated oil prices continued to support safe-haven demand.

Antam gold rose Rp 8,000 to Rp 2,996,000 ($176.72) per gram, reversing Tuesday’s Rp 5,000 decline that brought prices to Rp 2,992,000 per gram.

The precious metal has rallied roughly 20% so far in 2026, climbing from Rp 2,488,000 per gram at the start of the year. Despite the latest increase, prices remain below their all-time high of Rp 3,168,000 recorded on Jan. 29.

Meanwhile, Antam’s buyback price slipped Rp 4,000 to Rp 2,740,000 per gram.

Antam Gold Price (Wednesday, Mar. 18):

• 0,5 gram: Rp 1,548,000
• 1 gram: Rp 2,996,000
• 2 gram: Rp 5,932,000
• 3 gram: Rp 8,873,000
• 5 gram: Rp 14,755,000
• 10 gram: Rp 29,455,000
• 25 gram: Rp 73,512,000
• 50 gram: Rp 146,945,000
• 100 gram: Rp 293,812,000
• 250 gram: Rp 734,265,000
• 500 gram Rp 1,468,320,000

Globally, gold prices showed limited movement on Tuesday as investors assessed the economic implications of escalating tensions in the Middle East while awaiting key monetary policy decisions from major central banks this week.

As of Mar. 17, 2026, at 11:52 p.m. New York time, spot gold stood at $4,994.02 per ounce, edging down 0.05% or 2.60 points.

Market sentiment has been shaped by volatility in energy markets. Although Iran’s Foreign Minister Abbas Araqchi indicated the Strait of Hormuz was not fully closed, disruptions on the ground suggest the vital shipping route remains largely impaired amid the ongoing conflict involving the US-Israel alliance and Iran, keeping crude oil prices above $100 per barrel.

Analysts say higher oil prices tend to fuel inflation by raising transportation and production costs, which in turn strengthens gold’s appeal as a hedge against rising prices.

At the same time, US President Donald Trump has urged broader international support to reopen the Strait of Hormuz while expressing frustration over limited cooperation.

Investors are now splitting their focus between geopolitical developments and the US Federal Reserve’s policy decision due Wednesday, with expectations that the central bank will hold interest rates steady for a second consecutive meeting.

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