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Gold Rises Rp 8,000 to Rp 2.29 Million as Global Investors Eye Fed Policy Path

Indah Handayani, Natasha Khairunisa Amani
November 4, 2025 | 10:33 am
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In this undated photo, Freeport Indonesia CEO Tony Wenas holds a gold bar that will be sent to state-owned gold supplier Aneka Tambang (Antam). (Photo courtesy of Freeport Indonesia)
In this undated photo, Freeport Indonesia CEO Tony Wenas holds a gold bar that will be sent to state-owned gold supplier Aneka Tambang (Antam). (Photo courtesy of Freeport Indonesia)

Jakarta. Indonesia’s state-run gold producer Aneka Tambang (Antam) saw its gold bar price rebound sharply on Tuesday, gaining Rp 8,000 to Rp 2,286,000 ($136.64) per gram after a two-day decline amid global market volatility and a fluctuating rupiah.

According to Antam’s website, the gold price had dropped Rp 12,000 to Rp 2,278,000 on Monday and fell another Rp 15,000 to Rp 2,290,000 on Saturday. The metal’s all-time high remains Rp 2,487,000 per gram, recorded on October 21, 2025.

Antam’s buyback price also strengthened by Rp 8,000 to Rp 2,151,000 per gram on Tuesday. 

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Antam Gold Price (Tuesday, Nov. 4):

  • 0,5 gram: Rp 1,193,000
  • 1 gram: Rp 2,286,000
  • 2 gram: Rp 4,522,000
  • 3 gram: Rp 6,765,000
  • 5 gram: Rp 11,245,000
  • 10 gram: Rp 22,410,000
  • 25 gram: Rp 55,860,000
  • 50 gram: Rp 111,555,000
  • 100 gram: Rp 222,960,000
  • 250 gram: Rp 557,090,000
  • 500 gram: Rp 1,113,900,000
  • 1.000 gram: Rp 2,226,600,000

Globally, gold prices dipped as investors await fresh US economic data for cues on the Federal Reserve’s next rate move. According to goldprices.org, the metal traded at $3,987 per ounce as of Nov. 3, 10:17 p.m. New York time, down 0.39 percent.

Traders are watching this week’s Automatic Data Processing (ADP) employment report and Institute of Supply Management (ISM) manufacturing Purchasing Managers Index (PMI) for further signals. However, several key US economic releases have been delayed due to the government shutdown, limiting visibility into the economy’s direction.

The Fed cut interest rates for the second time this year last week, though Chair Jerome Powell emphasized uncertainty over further reductions. Market odds for a December rate cut have since eased to 65.3 percent, from nearly full certainty before the meeting.

Meanwhile, China’s decision to end tax exemptions for some gold retailers on Nov. 1 may dampen demand from the world’s largest consumer of the precious metal.

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