Indonesia’s gold export benchmark price (HPE) and reference price (HR) increased in the second half of August 2026, driven by rising global demand for the precious metal (18/08).

Director General of Foreign Trade at the Ministry of Trade Tommy Andana said the increase was influenced by lower global benchmark interest rates, which reduced the potential returns from instruments such as deposits.

“This encouraged investors to move their liquidity into gold commodities to protect the value of their assets. This investment shift directly affected the increase in gold demand in the global market,” Tommy said in a statement in Jakarta on Tuesday.

According to Tommy, the situation led to higher gold prices in international markets because gold supplies were relatively limited.

The weakening of major global currencies and lower bond yields in international markets also contributed to the increase in gold HPE and HR during the second half of August 2026.

Gold Export Benchmark Price Rises 0.65 Percent

The gold HPE was set at US$131,777.67 per kilogram, an increase of 0.65 percent from US$130,921.50 per kilogram in the first half of August 2026.

The gold HR also increased to US$4,098.75 per troy ounce, from US$4,072.12 per troy ounce previously.

New Prices Apply From August 15 to 31

The HPE and HR for gold were set under Ministry of Trade Decree No. 1716 of 2026 on Export Benchmark Prices and Reference Prices for Mining Products Subject to Export Duties.

The decree applies to the period from August 15 to August 31, 2026.

Tommy also said gold prices increased 0.65 percent during the data collection period.

Gold Prices Based on LBMA Publications

The Ministry of Trade set the gold HPE and HR based on data and technical input from the Ministry of Energy and Mineral Resources, referring to publications by the London Bullion Market Association (LBMA).

The determination was made through coordination among ministries and government agencies, based on information, data and input from the Coordinating Ministry for Economic Affairs, the Ministry of Energy and Mineral Resources, the Ministry of Finance, and the Ministry of Industry.

PHOTO: UNSPLASH

This article was created with AI assistance.

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