Govt Sets Reference Prices of Gold for the Second Period of August 2026

RRI.CO.ID, Jakarta - The Indonesian Ministry of Trade has set the Export Reference Price (ERP) for gold at USD 131,777.67 per kilogram for the second period of August 2026, up 0.65 percent from the first period ERP of USD 130,921.50 per kilogram.

The Reference Price (RP) for gold has also risen to USD 4,098.75 per troy ounce from USD 4,072.12 per troy ounce. These provisions apply for the period August 15–31, 2026.

The ministry’s Director General of Foreign Trade, Tommy Andana, said the increases in the ERP and RP were influenced by a decline in global benchmark interest rates, which has reduced the potential returns on instruments such as time deposits.

“This has prompted investors to shift their liquidity into gold as a means of protecting the value of their assets,” Tommy said in a statement in Jakarta on Saturday, August 15, 2026.

According to Tommy, this shift in investment has directly increased global demand for gold. With supply relatively limited, the situation has pushed gold prices higher in international markets.

Another factor contributing to the rise in the ERP and RP is the weakening of major global currencies. Declining bond yields in international markets have also driven the increase in both indicators.

The ERP and RP for gold were set based on data and technical input from the Ministry of Energy and Mineral Resources (ESDM), referring to publications by the London Bullion Market Association (LBMA).

“The rates were set through inter‑ministerial and inter‑agency coordination 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,” Tommy said.

The provisions on the ERP and RP for gold were established through Minister of Trade Decree No. 1716/2026 on Export Reference Prices and Reference Prices for Mining Products Subject to Export Duties. The decree is effective from August 15 to 31, 2026. (Gusti Panji)