RRI.CO.ID, Jakarta - The Indonesian Ministry of Trade has adjusted the Export Reference Price (ERP) for gold for the period July 15–31, 2026, following a decline in international gold prices. The Reference Price (RP), which serves as the basis for export policy, was also lowered.

Under the Minister of Trade Decree No. 1559/2026, the ERP for gold was set at USD 131,839.51 per kilogram, down 2.71 percent from the first period of July, which stood at USD 135,512.62 per kilogram. Meanwhile, the RP fell from USD 4,214.92 to USD 4,100.67 per troy ounce.

The ministry’s Director General of Foreign Trade, Tommy Andana, said the decline in ERP and RP was driven by weaker demand for gold as a safe‑haven asset. Rising bond yields and persistently high interest rates in several developed countries have prompted investors to shift funds into interest‑bearing instruments.

“This has resulted in weaker gold prices and some investors selling off their holdings to secure profits,” Tommy said in a statement in Jakarta on Thursday, July 16, as quoted on the ministry’s official website.

He added that the ERP and RP are determined through coordination among ministries and agencies, using technical data from the Ministry of Energy and Mineral Resources based on publications by the London Bullion Market Association (LBMA).

“The determination is made through inter‑ministerial and inter‑agency coordination, drawing 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,” Tommy said.

The ERP and RP for gold in the second period of July are effective from July 15–31. These adjustments serve as a government reference in setting export policies for mining products subject to export duties. ***