TEMPO.CO, Jakarta – The World Gold Council reported that gold demand in Indonesia surged 40 percent year-on-year in the second quarter of 2026. Total demand for gold bars and coins reached 14.5 tons during the period, up from 10.4 tons in the same quarter last year.
Shaokai Fan, Head of Asia-Pacific and Global Head of Central Banks at the World Gold Council, noted that Indonesia was once again among the world’s top-performing gold investment markets in the second quarter. “Demand for gold bars and coins surged 40 percent year-on-year despite a slowdown in gold prices,” he said in an official statement cited on Sunday, August 2, 2026.
Over the past six months, domestic gold bar prices in Indonesia have indeed trended downward. According to the Logam Mulia website, bullion produced by state miner PT Aneka Tambang (Antam) stood at Rp2,603,000 per gram on August 2, 2026. That figure marks a decline from the peak of Rp3,168,000 per gram recorded in January. The drop aligns with a broader correction across global bullion markets. Data from Trading Economics shows global gold prices have fallen 6.41 percent year-to-date.
Fan explained that continued high demand for gold in Indonesia reflects a shift in investor behavior. “Rather than simply reacting to short-term price fluctuations, more and more investors in Indonesia view gold as a strategic asset for the long term, particularly given the continued weakening of the rupiah and an uncertain domestic economic outlook,” he said.
World Gold Council Senior Markets Analyst Louise Street added that global gold prices entered a consolidation phase in the second quarter after pulling back from historic highs. However, she believes the market remains supported by solid fundamentals, with gold continuing to serve as a diversification tool and reliable store of value.
Street predicts investment will be the primary driver of gold demand through the second half of 2026, even if its overall composition shifts. “Off-exchange activity and Asian investor interest are predicted to become increasingly dominant,” she said.
Read: Antam Gold Prices Drop Rp20,000 at Start of August
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