Jakarta. Indonesia’s state-owned precious metals producer Aneka Tambang reported a sharp selloff in domestic gold prices on Tuesday, with Antam bullion plunging Rp 95,000 to Rp 2,501,000 ($148.99) per gram.

Data from Logam Mulia showed Antam gold had already slipped Rp 9,000 on Monday to Rp 2,596,000 per gram, after surging Rp 16,000 on Saturday to a record high of Rp 2,605,000 per gram.

The buyback price also tumbled Rp 95,000 on Tuesday to Rp 2,360,000 per gram.

Antam Gold Price (Tuesday, Dec. 30):

• 0,5 gram: Rp 1,300,500
• 1 gram: Rp 2,501,000
• 2 gram: Rp 4,942,000
• 3 gram: Rp 7,388,000
• 5 gram: Rp 12,280,000
• 10 gram: Rp 24,505,000
• 25 gram: Rp 61,137,000
• 50 gram: Rp 122,195,000
• 100 gram: Rp 244,312,000
• 250 gram: Rp 610,515,000
• 500 gram Rp 1,220,820,000

Internationally, gold and silver prices retreated from recent sharp gains after the Chicago Mercantile Exchange raised margin requirements, forcing traders to put up more cash to maintain positions in precious metals.

Gold prices fell 4.6%, although they remain up about 64% year-to-date. Silver slumped 8.7%, but is still more than double its level at the start of 2025.

According to goldprice.org, spot gold stood at $4,358.5 per ounce, down 175.66 points or 3.87% as of Dec. 29 at 9:48 p.m. New York time.

Geopolitical risks also resurfaced after Russian President Vladimir Putin told US President Donald Trump that Moscow would reassess its stance in peace negotiations following a Ukrainian drone attack on the Russian president’s residence, according to a Kremlin statement. Gold traditionally benefits from periods of economic and geopolitical uncertainty.

However, TD Securities commodity analyst Daniel Ghali said the latest price pressure was exacerbated by thin market liquidity ahead of year-end holidays, alongside a looming deadline for the US president to issue recommendations related to a critical minerals investigation.