Jakarta. Indonesia Commodity & Derivatives Exchange (ICDX) reported that multilateral transactions went up by around 43.9%, and many of them were gold contracts.

Throughout 2025, the volume of multilateral transactions on the ICDX was recorded at 1,175,332 lots, a 43.9% increase compared to 2024's volume of 816,473 lots. Of the total transactions in 2025, gold commodity futures contracts dominated the transaction volume. The GOLDGR contract accounted for 281,280 lots, while 180,110 lots had come from the GOLDUDMic contract.

Gold commodity futures contracts also made up the largest share of the previous year. GOLDUDMic contract volume totaled 341,155 lots, while that of GOLDGR stood at 275,222 lots. ICDX recorded 43,390 lots in GOLDUD versus the 195,308 lots in 2024. 

"The growth in total transaction volume in 2025 was driven by a shift in market player preferences from USD-based gold contracts to more stable and standardized rupiah gold contracts. GOLDGR emerged as the backbone of gold liquidity in 2025, while GOLDUD and GOLDUDMic experienced volume adjustments in line with changing strategies and market needs. This demonstrates that ICDX's gold product development is increasingly geared toward strengthening the domestic market, with GOLDGR as a key instrument in supporting the deepening of the national gold market," ICDX Director Nursalam said.

GOLDUDMic mainly dominated the 2024 transactions, reflecting the high interest in micro gold contracts. Last year, GOLDGR made up the lion's share, reflecting a strengthening of rupiah-based gold transactions and domestic physical gold.

"The performance of ICDX gold product transactions in 2025 confirms the direction of strengthening the national gold market, with a focus on products that are stable, transparent, and oriented to domestic market needs. Going forward, ICDX remains committed to encouraging gold market deepening through the development of inclusive, liquid, and competitive products," Nursalam said.

GOLDUD is a daily rolling USD gold contract with a contract unit of 10 troy ounces per lot. GOLDUD is denominated in USD and is based on the Loco London market price with a purity level of 99.99%. GOLDUDMic is a micro version of the GOLDUD contract with a size of 1/100th of the standard contract. The minimum transaction is 1 micro lot (equivalent to 0.01 GOLDUD contract). The smaller contract size makes USD-based gold transactions more affordable, while still providing exposure to global gold price movements based on the London Loco market. GOLDGR is a gold futures contract symbol with a specification of 100 grams per lot in Rupiah (IDR). The quality of gold that can be delivered through this contract must be 99.99% purity and bear a serial number and identifying stamp from an approved refiner registered with the ICDX.

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