Indonesia raises gold export and reference prices on higher demand
Indonesia’s trade ministry raised the export benchmark and reference price for gold by 0.65% for the second half of August after global demand surged.
Source: Ministry of Trade Indonesia · August 16, 2026 at 7:03 PM · AI-assisted report
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KUALA LUMPUR, 17 AUGUST 2026 —
Indonesia’s trade ministry raised the export benchmark and reference price for gold by 0.65% for the second half of August after global demand surged.
Market Impact
The ministry set the export benchmark at USD131,777.67 per kg, up from USD130,921.50 in the first half of the month, and the reference price at USD4,098.75 per troy ounce from USD4,072.12, according to a decision published on Saturday.
Trade ministry director-general Tommy Andana said lower global interest rates cut the appeal of cash instruments such as deposits, pushing investors toward gold as a store of value. “This shift in investment liquidity has lifted global gold demand,” he said.
The ministry cited tighter supply, a softer US dollar and lower bond yields as additional drivers of the price increase. It sets prices each fortnight using data from the Energy and Mineral Resources Ministry and the London Bullion Market Association, with input from five other ministries.