Antam gold prices rose by IDR 20,000 to IDR 2,570,000 per gram on Wednesday, October 28, 2026, according to data published on the official Logam Mulia website. The increase came as global gold prices traded around $4,000 per troy ounce ahead of the US Federal Reserve’s (Fed) interest rate decision scheduled for early Thursday, October 29, Jakarta time.
## Antam Gold vs. Global Gold Prices
Domestic gold prices have shown relatively limited movement compared with global gold futures over the past week.
The contrasting movements in domestic and international gold prices coincided with the rupiah’s depreciation. Exchange rate fluctuations are one of the factors influencing gold prices in rupiah, alongside international bullion prices and domestic pricing components.
For other product sizes, Antam gold bars weighing 5 grams were priced at IDR 12,665,000, according to Logam Mulia data cited by local media.
## Gold Prices Ahead of Fed Decision
Market participants are closely monitoring the Federal Reserve’s monetary policy meeting on October 27–28, 2026.
The expected decision is important for gold markets because interest rate expectations and the Fed’s policy guidance can influence the US Dollar and the appeal of precious metals.
Investors will examine the Fed’s policy statement for indications of whether persistent inflation could keep interest rates elevated for longer or whether the central bank may have room to adjust its policy in future meetings.
## Indonesian Gold Stocks Mixed
Shares of Aneka Tambang (Antam) rose 0.36% to IDR 2,770 per share. Despite the daily gain, the stock remained down 12.06% year to date.
In contrast, Merdeka Copper Gold shares fell 2.91%, while Hartadinata Abadi declined 3.31% during the same session.
The Jakarta Composite Index (JCI) closed at 5,266.13 on Tuesday, down 1.99%, according to Indonesia Stock Exchange data. Ten of the 11 sectoral indices ended in negative territory, including the basic materials sector, which dropped 3.32%.
## Antam Gold Price Outlook
Over the past week, Antam gold prices remained within a relatively narrow range of IDR 2.55 million to IDR 2.57 million per gram. By comparison, gold futures denominated in US dollars fell by more than 3% over the same period.
The rupiah’s depreciation against the US Dollar is one factor that may help explain the divergence between domestic and international gold prices. Other factors include domestic pricing policies and applicable costs.
Going forward, the Federal Reserve’s interest rate decision, movements in the US Dollar, oil prices, and the rupiah exchange rate will remain important factors for gold market participants to monitor.