Gold Edges Higher, Antam Tracks Gains Amid Rate Pressure
Jakarta. Gold prices rebounded at the close of trading on Wednesday, with Antam bullion climbing despite lingering global headwinds tied to inflation and interest rate expectations.
Antam gold rose to Rp 2,850,000 ($168.66) per gram on Mar. 25, up from Rp 2,843,000 in the previous session.
The precious metal has gained roughly 16% so far in 2026, compared with Rp 2,488,000 per gram at the start of the year, although it remains below its all-time high of Rp 3,168,000 recorded on Jan. 29.
Antam Gold Price (Wednesday, Mar. 25):
- 0,5 gram: Rp 1,475,000
- 1 gram: Rp 2,850,000
- 2 gram: Rp 5,640,000
- 3 gram: Rp 8,435,000
- 5 gram: Rp 14,025,000
- 10 gram: Rp 27,995,000
- 25 gram: Rp 69,862,000
- 50 gram: Rp 139,645,000
- 100 gram: Rp 279,212,000
- 250 gram: Rp 697,765,000
- 500 gram Rp 1,395,320,000
Globally, spot gold surged to $4,576.7 per ounce, jumping $172.22 or 3.92% as of late Tuesday in New York, according to goldprice.org.
However, gold prices are facing near-term pressure as rising inflation fears, higher bond yields, and a strong US dollar dampen investor sentiment, according to TD Securities.
Despite escalating geopolitical tensions—which would typically support safe-haven demand—the market is being driven more by expectations that central banks will keep interest rates higher for longer. Bart Melek, head of commodity strategy, said gold has become increasingly sensitive to real yields, with inflation alone no longer enough to lift prices as investors compare returns with assets like US Treasuries.
A key risk factor is surging oil prices, which are fueling inflation and complicating the Federal Reserve’s policy path. TD estimates every 10% rise in oil adds about 0.2 percentage points to the US inflation, meaning sustained increases could force central banks to stay restrictive, typically negative for gold. “If inflation is going the other way, it becomes very difficult for the central bank to ease,” Melek said, cited from Kitco. Still, he expects the oil shock to be temporary, noting that easing inflation and potential rate cuts could eventually weaken the dollar and revive gold’s longer-term appeal.
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