Jakarta. Gold prices in Indonesia surged sharply on Wednesday, with Antam bullion jumping Rp 50,000 to Rp 2,900,000 per gram, extending its strong rally this year as global sentiment improves on easing geopolitical tensions.

The increase follows Tuesday’s gain of Rp 19,000, when prices reached Rp 2,850,000 per gram. Year-to-date, Antam gold has climbed about 16%, up from Rp 2,488,000 per gram at the start of 2026.

Despite the rally, prices remain below their all-time high of Rp 3,168,000 per gram recorded on Jan. 29, 2026.

Antam’s buyback price also jumped significantly, rising Rp 95,000 to Rp 2,664,000 per gram.

Antam Gold Price (Wednesday, Apr.8):

• 0,5 gram: Rp 1,500,000
• 1 gram: Rp 2,900,000
• 2 gram: Rp 5,740,000
• 3 gram: Rp 8,585,000
• 5 gram: Rp 14,275,000
• 10 gram: Rp 28,495,000
• 25 gram: Rp 71,112,000
• 50 gram: Rp 142,145,000
• 100 gram: Rp 284,212,000
• 250 gram: Rp 710,265,000
• 500 gram Rp 1,420,320,000

Globally, gold prices climbed more than 2% in early Wednesday trading, breaking above the key resistance level of $4,800 per troy ounce and reaching $4,815.15. Analysts say the next upside target could approach $5,000 per ounce if momentum holds.

The rally was fueled by growing optimism over a potential two-week ceasefire in the Middle East, seen as a stepping stone toward a broader peace deal. In a social media post, US President Donald Trump said Washington had agreed to a temporary truce while reviewing a peace proposal from Iran, noting that a 10-point framework had been received and that most longstanding issues between the two sides had been largely addressed, with the interim period aimed at finalizing a comprehensive agreement.

Analysts added that a de-escalation in conflict could give central banks, including the Federal Reserve, more room to consider interest rate cuts later this year.

Silver prices also rallied alongside gold, jumping more than 4% and surpassing $76 per ounce.

Still, recent trends highlight volatility in the bullion market. Over the past month, gold prices have dropped more than 11%, marking the steepest monthly decline since the early 1980s. The downturn was driven by liquidity needs among investors and central banks, prompting gold sell-offs, while rising inflation expectations boosted interest rate outlooks and reduced the appeal of non-yielding assets like gold.

Meanwhile, the Middle East conflict had previously pushed oil prices above $100 per barrel, disrupting global supply chains and adding to inflationary pressures. While a ceasefire may help ease some of these risks, analysts caution that the broader economic impact remains uncertain.