Jakarta. Indonesia’s benchmark gold prices surged on Tuesday, tracking a global rally as investors grew more confident that the Federal Reserve will begin cutting interest rates next month.

Data from Logam Mulia showed Antam’s bullion price climbing Rp 40,000 to Rp 2.38 million ($142.88) per gram, a sharp rebound after a slight Rp 1,000 dip on Monday. .

Antam’s buyback rate also strengthened Rp 40,000 to Rp 2.241 million per gram.

Antam Gold Price (Tuesday, Nov. 25):

• 0,5 gram: Rp 1,240,000
• 1 gram: Rp 2,380,000
• 2 gram: Rp 4,700,000
• 3 gram: Rp 7,025,000
• 5 gram: Rp 11,675,000
• 10 gram: Rp 23,295,000
• 25 gram: Rp 58,112,000
• 50 gram: Rp 116,145,000
• 100 gram: Rp 232,212,000
• 250 gram: Rp 580,265,000
• 500 gram Rp 1,160,320,000

On the international market, gold rallied more than 1 percent on Monday as traders priced in a higher likelihood of a December rate cut. Goldprice.org recorded spot gold at $4,152.1, up 2,187.11 points or 111.31 percent as of Nov. 24 at 09:52 p.m. New York time.

Market sentiment also firmed ahead of delayed US economic data, including retail sales, jobless claims, and producer prices, following the recent government shutdown. The CME FedWatch tool now places the probability of a December rate cut at 79 percent.

Gold, a non-yielding asset, typically benefits from lower interest rates and heightened geopolitical or economic uncertainty. Fresh tensions remained on investors’ radar as the US and Ukraine resumed talks to revise their proposal for ending the conflict with Russia.

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