Gold prices hit record highs as global tensions drive investor demand

Gold prices have surged in recent weeks, with Antam's latest figures showing a steady climb. On September 30, 2025, the price reached IDR 2,234,000 per gram—an increase of IDR 12,000 from the previous day. This rise reflects growing investor interest in gold as a defensive asset amid global instability.

The upward trend began in early August 2025, with prices breaking past IDR 2,200,000 per gram by late September. Corporate customers now pay IDR 2,174,600 per gram under Antam's Corporate Safe product, also up by IDR 12,000. Analysts attribute the demand to a series of geopolitical events that have heightened uncertainty.

A wave of developments since August has pushed investors toward safe-haven assets. The Trump-Putin summit in Alaska signalled a potential US-Russia thaw, despite ongoing Ukraine tensions. Meanwhile, a US-brokered peace deal between Armenia and Azerbaijan shifted regional influence away from Russia and Iran. Escalations followed, including an Israeli airstrike on a Gaza hospital on August 26 and US moves like threats to annex Greenland, new tariffs on India for buying Russian oil, and a Trump-Hamas ultimatum issued on October 1.

Beyond geopolitics, market speculation about a Federal Reserve rate cut has further lifted gold prices. Rising physical demand in Asia has also played a role, reinforcing expectations of continued strength through the end of the year.

Antam's latest price hike aligns with broader market trends, as gold remains a favoured asset in uncertain times. With geopolitical tensions and economic factors still at play, analysts predict sustained demand. The company's corporate and retail rates now reflect this ongoing upward pressure.