Jakarta. Gold prices at state-owned miner Aneka Tambang, or Antam, rebounded on Monday after a sharp correction over the weekend, tracking volatile global bullion movements toward year-end.

Data from Logam Mulia showed Antam’s gold price rose Rp 30,000 to Rp 2,413,000 ($143.86) per gram on Monday, Dec. 29.

The rebound followed a steep Rp 232,000 drop on Saturday, when prices fell to Rp 2,383,000 per gram after briefly surging to an all-time high of Rp 2,605,000 per gram.

Antam’s buyback price, however, edged lower by Rp 9,000 to Rp 2,455,000 per gram on Monday.

Antam Gold Price (Monday, Dec. 29):

• 0,5 gram: Rp 1,348,000
• 1 gram: Rp 2,596,000
• 2 gram: Rp 5,132,000
• 3 gram: Rp 7,673,000
• 5 gram: Rp 12,755,000
• 10 gram: Rp 25,455,000
• 25 gram: Rp 63,512,000
• 50 gram: Rp 126,945,000
• 100 gram: Rp 253,812,000
• 250 gram: Rp 634,265,000
• 500 gram Rp 1,268,320,000

On the global market, gold prices are expected to remain volatile but biased upward into the final days of 2025, supported by geopolitical tensions and a weakening US dollar.

Commodity market analyst Ibrahim Assuaibi projected gold could test a first resistance level at $4,550 per troy ounce, with a further upside range of $4,570–$4,600 if momentum strengthens.

However, he warned that downside risks remain. Gold could retreat to an initial support level at $4,509 per troy ounce, with a deeper correction toward $4,487 possible if selling pressure persists through midweek.

According to goldprice.org, spot gold was recorded at $4,509 per ounce, down 9.86 points or 0.22% as of Dec. 28, 2025, at 11:11 a.m. New York time.

Ibrahim said price fluctuations continue to be driven by geopolitical developments and a softer US dollar. Tensions in Africa intensified after US military operations targeted militants in Nigeria, an OPEC member producing an estimated 1.3 million barrels of oil per day.

He also pointed to strained relations in Latin America, citing US actions against Venezuelan cargo ships and political pressure by President Donald Trump on Venezuelan leader Nicolas Maduro.

In Eastern Europe, uncertainty remains as ceasefire negotiations between Russia and Ukraine continue, with discussions reportedly involving multiple draft agreements and the possibility of a referendum.

Beyond geopolitics, Ibrahim said the weakening dollar has been reinforced by softer US economic data, particularly easing inflation. This has fueled market expectations that the Federal Reserve could resume interest rate cuts in early 2026, despite earlier guidance from Chair Jerome Powell suggesting only one cut next year.

He added that these combined factors could drive a renewed and significant rally in global gold prices going into 2026.

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