Jakarta. Gold prices soared on Friday as investors flocked to safe-haven assets amid rising global geopolitical tensions. State miner Aneka Tambang (Antam) raised the price of its gold bullion by Rp 33,000 to Rp 2,354,000 ($141.5) per gram, rebounding sharply after two days of losses.

According to Logam Mulia, Antam’s gold price had dropped Rp 16,000 on Thursday to Rp 2,321,000 per gram, following a steep Rp 177,000 slump on Wednesday morning before partially recovering later that night. Despite the rebound, prices still hovered below Antam’s all-time high of Rp 2,487,000 per gram, reached on Tuesday.

Antam’s buyback price also climbed Rp 30,000 to Rp 2,219,000 per gram on Friday. The company applies a final income tax (PPh 22) on buyback transactions exceeding Rp 10 million, 1.5 percent for taxpayers with a registered tax ID (NPWP) and 3 percent for those without.

Under Finance Ministry Regulation No. 34/PMK.10/2017, a sales tax deduction applies to all gold transactions.

Antam Gold Prices (Friday, Oct. 24):

• 0.5 gram —Rp 1,227,000
• 1 gram — Rp 2,354,000
• 5 grams — Rp 11,585,000
• 10 grams — Rp 23,090,000
• 25 grams — Rp 57,560,000
• 50 grams — Rp 114,955,000
• 100 grams — Rp 229,760,000
• 250 grams — Rp 574,090,000
• 500 grams — Rp 1,147,900,000
• 1,000 grams —Rp 2,294,600,000

In the global market, gold rose 2 percent to $4,145.60 per ounce, snapping a two-day losing streak after its record-breaking rally earlier this week. The metal has surged about 57 percent so far in 2025, fueled by concerns over ballooning government debt and persistent inflation risks.

The US government’s national debt topped $38 trillion on Wednesday, raising fears of prolonged inflation. Meanwhile, new US sanctions on Russia’s oil giants Lukoil and Rosneft, along with potential export restrictions on software to China, have intensified geopolitical uncertainty, further boosting gold’s appeal as a safe-haven asset.