PT Aneka Tambang Tbk (Antam) has lowered its daily gold price by Rp 20,000 per gram, setting the new rate at Rp 2.635 million.
The state-owned miner also reduced its buyback price by the same margin, bringing the offer to Rp 2.395 million per gram.
The price cuts come after the World Gold Council raised its 2026 target to $4,100, citing a shift in sentiment earlier this month.
The adjustment reflects the ongoing softness in global spot gold prices, which have been under pressure amid shifting investor sentiment and stronger currency dynamics in key markets.
This marks the second consecutive daily cut for Antam, following a previous reduction of Rp 14,000 per gram that brought the spot rate to Rp 2.641 million. The cumulative decline underscores a broader regional trend, with gold prices in neighboring Thailand also retreating as spot metals extend their monthly decline.
The synchronized pullback across Southeast Asian markets suggests that local demand is not yet strong enough to offset the global headwinds facing the precious metal.
The price cuts come after the World Gold Council raised its 2026 target to $4,100, citing a shift in sentiment earlier this month. However, the recent daily adjustments by Antam and other regional retailers indicate that the path to higher prices may be more volatile than previously anticipated.