Jakarta. Gold prices at state-owned miner Antam surged to a fresh record at the start of the week, underscoring strong momentum in both domestic and global bullion markets.

Antam’s 1-gram gold bar jumped Rp 40,000 on Monday to Rp 2,703,000 ($159.75), setting a new all-time high. The previous record stood at Rp 2.675 million, reached on Jan. 15, 2026.

Data from Antam’s Logam Mulia platform showed that prices had slipped Rp 6,000 to Rp 2.663 million per gram on Saturday, before rebounding sharply at the start of the week.

The company’s buyback price also climbed significantly, rising Rp 36,000 on Saturday to Rp 2.545 million per gram.

Antam Gold Price (Monday, Jan. 19):

• 0,5 gram: Rp 1,401,500
• 1 gram: Rp 2,703,000
• 2 gram: Rp 5,346,000
• 3 gram: Rp 7,994,000
• 5 gram: Rp 13,290,000
• 10 gram: Rp 26,525,000
• 25 gram: Rp 65,187,000
• 50 gram: Rp 132,295,000
• 100 gram: Rp 264,512,000
• 250 gram: Rp 661,015,000
• 500 gram Rp 1,321,820,000

On the global market, gold prices extended gains, with spot gold trading at $4,669.06 per ounce as of 10:13 p.m. New York time on Jan. 18, up $78.77 or 1.72%, according to goldprice.org.

Despite only a few weeks into 2026, gold has already risen $256 so far this month. Global prices have climbed 5.6% over the past two weeks, prompting analysts to remain upbeat about the broader trend, even as the market enters a consolidation phase.

Neil Welsh, head of metals at Britannia Global Markets, said gold holding above $4,600 reflects healthy consolidation following a year of strong gains.

He added that the recent pause in the rally is not unusual, noting that last week’s US economic data did not provide new urgency for the Federal Reserve to shift from its wait-and-see stance. The CME FedWatch Tool currently shows limited expectations for a Fed rate cut in the first quarter of 2026.

FXTM senior market analyst Lukman Otunuga echoed the constructive outlook, saying the broader bullish trend remains intact despite near-term consolidation.

Lukman said fundamentals continue to favor gold, citing concerns over the Fed’s independence, ongoing trade tariff tensions, and steady central bank purchases.

From a technical perspective, Otunuga warned that sustained weakness below $4,570 could open the door for a pullback toward $4,500 or even $4,450 before buyers step back in. On the upside, a break above $4,645 could push prices toward the next key level at $4,700.

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