December 24, 2025 | 04:58 pm
TEMPO.CO, Jakarta - Ibrahim Assuaibi, Director of PT Traze Andalan Futures, estimates that the price of gold will soar to Rp3.8 million per gram by 2026.
"It is highly probable that we will reach the Rp3.8 million mark if the price of the precious metal hits Rp2.7 million by the end of 2025," Ibrahim stated via voice message on Wednesday, December 24, 2025.
The price of gold produced by PT Aneka Tambang, commonly known as Antam gold, was recorded at Rp2,596,475 per gram in trading today, December 24, 2025. Today's rate marks an increase of Rp29,000 compared to yesterday's closing of Rp2,561,000 per gram.
Ibrahim also analyzed the potential rise in global gold prices, which he believes could touch US$5,500 per troy ounce in early 2026. Should a market correction occur, he estimates that global prices will likely settle around US$4,150 per troy ounce.
In his baseline calculations, he projects the average global gold price for 2026 to hover around US$4,825 per troy ounce.
According to Ibrahim, five primary factors are influencing the surge in global gold prices at the start of the year. These include volatile geopolitical conditions, the shifting political landscape in the United States, the monetary policies of the U.S. Federal Reserve, ongoing trade wars, and the fundamental balance of supply and demand.
Ibrahim noted that the Fed's decisions regarding precious metal purchases and a tightening global supply will significantly impact price fluctuations.
Beyond global drivers, Ibrahim pointed to Indonesia’s internal situation as a catalyst for rising prices. A primary concern is the limited supply of precious metals available to meet domestic demand. He estimates that PT Freeport Indonesia will only be able to produce approximately 25 tons of gold next year.
This sluggish supply prompted Finance Minister Purbaya Yudhi Sadewa to implement a gold export tax ranging from 7.5 to 15 percent. "This is to meet domestic demand and encourage people to purchase precious metals," Ibrahim explained.
Ibrahim predicts that gold inflation will continue because people will buy more gold as they see the price climbing. He expects the commodity's price to keep rising due to the ongoing global situation.
Read: Antam Gold Price Jumps Rp59,000 to Rp2.56 Million per Gram
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