Jakarta. Indonesia’s benchmark gold price climbed again on Monday, extending last week’s rebound as global bullion stayed firmly in bullish territory ahead of an expected US Federal Reserve rate cut.

Antam’s bullion price rose Rp 2,000 to Rp 2,415,000 ($144.92) per gram. This follows a Rp 4,000 drop on Friday that brought the price to Rp 2,383,000 per gram.

Antam’s all-time high remains Rp 2,487,000, last seen on Oct. 21, 2025.

The buyback price also strengthened by Rp 2,000 to Rp 2,276,000 per gram.

Antam Gold Price (Monday, Dec. 1):

• 0,5 gram: Rp 1,257,500
• 1 gram: Rp 2,415,000
• 2 gram: Rp 4,770,000
• 3 gram: Rp 7,130,000
• 5 gram: Rp 11,850,000
• 10 gram: Rp 23,645,000
• 25 gram: Rp 58,987,000
• 50 gram: Rp 117,895,000
• 100 gram: Rp 235,712,000
• 250 gram: Rp 589,015,000
• 500 gram Rp 1,177,820,000

Global gold continued its upward momentum, buoyed by expectations that the Fed will begin cutting rates soon. As of Nov. 30 at 10:35 p.m. New York time, spot gold traded at $4,239.15, up 19.30 points (+0.46 percent), according to goldprice.org.

The metal has surged 4.05 percent over the past week, 5.12 percent in November, and an impressive 61.53 percent year-to-date. Its current global ATH stands at $4,381.6, set on Oct. 20, 2025.

Dupoin Futures Indonesia analyst Andy Nugraha said gold’s upward trend remains intact despite short-term volatility.

“Markets expect the Fed to loosen monetary policy soon. That weakens the dollar and lowers the opportunity cost of holding gold,” he said.

Technically, he sees gold testing $4,381 this week as a key psychological resistance. A correction could unfold if prices fall below $3,867, with deeper downside risk toward $3,718. He added that a rebound in the dollar could emerge if hawkish sentiment returns, strong macro data appears, or bond yields climb.

“When interest rates fall and the dollar weakens, investors rotate back into safe-haven assets like gold,” Andy noted.

Commodity analyst Ibrahim Assuaibi echoed the bullish view, projecting gold to maintain its upward trajectory through year-end. For Monday’s session, he sees support at $4,072 and resistance at $4,263, with weekly upside potential toward $4,328.

“Our year-end technical target is $4,410 per troy ounce,” Ibrahim said, citing factors such as the Fed’s upcoming rate cuts, speculation over a potential Fed leadership change in early 2026, geopolitical tension, and US political uncertainty.

“If uncertainty rises and the dollar weakens, gold tends to strengthen again toward the end of the year,” he added.