Jakarta. Gold prices in Indonesia climbed further on Monday, with Aneka Tambang (Antam) bullion rising Rp 11,000 to a fresh all-time high of Rp 2,502,000 ($149.29) per gram, extending the precious metal’s recent rally.

Data from Logam Mulia showed that Antam gold had already set a previous record on Saturday after gaining Rp 8,000 to Rp 2,491,000 per gram.

The latest increase pushed prices to a new peak. Antam’s buyback price also rose Rp 11,000 to Rp 2,361,000 per gram.

Antam Gold Price (Monday, Dec. 22):

• 0,5 gram: Rp 1,301,000
• 1 gram: Rp 2,502,000
• 2 gram: Rp 4,944,000
• 3 gram: Rp 7,391,000
• 5 gram: Rp 12,285,000
• 10 gram: Rp 24,515,000
• 25 gram: Rp 61,162,000
• 50 gram: Rp 122,245,000
• 100 gram: Rp 244,412,000
• 250 gram: Rp 610,765,000
• 500 gram Rp 1,221,320,000

Globally, spot gold remained elevated. Data from goldprice.org showed that as of Dec. 21 at 9:40 p.m. New York time, gold traded at $4,381.57 per ounce, up $27.44 or 0.63%.

While many global analysts remain broadly optimistic on gold prices, some expect the rally to lose momentum in 2026. Citing analysis reported by Kitco, veteran technical analyst Avi Gilburt, founder of ElliottWaveTrader, was said to be closely watching resistance around $4,383 per troy ounce.

According to the report, Gilburt assessed that a decisive break above that level could open the way for prices to approach $5,000 per ounce before the rally peaks. As long as resistance holds, however, he expected gold to face a sharp correction, potentially falling back toward $3,800 per ounce, while stressing that such a decline would not necessarily mark the end of the cycle.

He was also described as viewing a potential pullback as a buying opportunity, with one more major rally possible before the cycle concludes. Gilburt reportedly downplayed the role of fundamentals, arguing that price movements tend to be driven more by market structure than by supply-and-demand narratives.

In his analysis, he pointed to the 2008–2011 period, when gold prices eventually fell sharply after peaking despite strong fundamentals and accommodative monetary policy, noting that gold lost more than 30% of its value in 2008 even as equity markets were under heavy pressure.