Indonesia raises gold export reference price 0.65% for second half of August
Indonesia’s Ministry of Trade set the gold export reference price at US$131,777.67 per kg for 15–31 August, up 0.65% from US$130,921.50 in the first half of the month.
Source: Ministry of Trade Indonesia · August 18, 2026 at 7:31 AM · AI-assisted report
Single-source
KUALA LUMPUR, 18 AUGUST 2026 —
Indonesia’s Ministry of Trade set the gold export reference price at US$131,777.67 per kg for 15–31 August, up 0.65% from US$130,921.50 in the first half of the month.
Market Impact
The ministry also raised the gold reference price to US$4,098.75 per troy ounce from US$4,072.12, according to a decision published on 17 August.
Tommy Andana, director-general of foreign trade at the ministry, said lower global benchmark interest rates reduced the appeal of instruments such as deposits, prompting investors to move cash into gold as an inflation hedge.
“This shift in investment behaviour lifted global gold demand directly,” he said. “With supply remaining tight, international prices rose.”
Andana added that currency depreciation among major economies and lower bond yields also supported the increase in the export and reference prices.
The prices are based on technical inputs from the Ministry of Energy and Mineral Resources, referencing London Bullion Market Association data. The decision follows coordination with the Coordinating Ministry for Economic Affairs, the Ministry of Finance and the Ministry of Industry, according to the ministry’s statement.
Related: Ministry of Finance · Kuala Lumpur