Jakarta. Gold prices in Indonesia edged higher on Thursday, rebounding after two straight days of losses, as safe-haven demand strengthened amid escalating geopolitical tensions in the Middle East.

According to the official website of Logam Mulia, gold bars produced by Aneka Tambang, or Antam, rose by Rp 4,000 to Rp 3,049,000 ($180.60) per gram on Thursday. The increase came after prices had dropped sharply the previous day, when Antam gold slid Rp 77,000 to Rp 3,045,000 per gram.

Despite the recent volatility, Antam gold has rallied roughly 22% since the start of the year. On Jan. 1, the precious metal was priced at Rp 2,488,000 per gram.

The all-time high for Antam gold stands at Rp 3,168,000 per gram, recorded on Jan. 29, 2026.

Meanwhile, the buyback price, the rate at which Antam repurchases gold from customers — climbed Rp 25,000 on Wednesday to Rp 2,819,000 per gram.

Antam Gold Price (Thursday, Mar. 5):

• 0,5 gram: Rp 1,574,500
• 1 gram: Rp 3,049,000
• 2 gram: Rp 6,038,000
• 3 gram: Rp 9,032,000
• 5 gram: Rp 15,020,000
• 10 gram: Rp 29,985,000
• 25 gram: Rp 74,837,000
• 50 gram: Rp 149,595,000
• 100 gram: Rp 299,112,000
• 250 gram: Rp 747,515,000
• 500 gram Rp 1,494,820,000

On the international market, gold prices also advanced on Wednesday after retreating sharply a day earlier, supported by rising geopolitical risks that boosted demand for safe-haven assets.

Data from goldprice.org showed spot gold at $5,189.73 per ounce as of 10:17 p.m. New York time on Mar. 4, up $77.37 or 1.51%.

Peter Grant, vice president and senior metals strategist at Zaner Metals, said a weaker US dollar had helped underpin the rally in gold prices. Grant said that the dollar had recently corrected, providing additional support for bullion. He added that broader macroeconomic fundamentals remained supportive and that ongoing conflict involving Iran could continue to serve as a bullish catalyst for the precious metal, as cited by Reuters.

He also warned that market volatility may persist but maintained that gold prices still have the potential to reach fresh record highs in the near term.

The US dollar retreated after surging in Tuesday’s trading. A softer dollar typically boosts gold’s appeal, as bullion priced in dollars becomes cheaper for investors holding other currencies.

Geopolitical tensions between the US and Iran have intensified in recent days. The situation escalated after a US submarine reportedly sank an Iranian warship off the coast of Sri Lanka, leaving at least 80 people dead. Separately, NATO air defense systems intercepted and destroyed an Iranian ballistic missile launched toward Turkey.

Gold, which does not generate yield, tends to attract investors during periods of geopolitical uncertainty and rising inflation, particularly in a low-interest-rate environment.