Indonesia Raises Gold ERP by 7.87 Percent for the First Period of September 2026

RRI.CO.ID, Jakarta - Rising gold prices on the global market have pushed up Indonesia’s Export Reference Price (ERP) for gold. The Ministry of Trade has set the ERP at USD 142,154.10 per kilogram for the first period of September 2026.

The figure marks a 7.87 percent increase from the ERP for the second half of August, which stood at USD 131,777.67 per kilogram. The Reference Price (RP) for gold also rose, from USD 4,098.75 to USD 4,421.49 per troy ounce.

The provisions are outlined in Minister of Trade Decision No. 1776/2026 on the ERP and RP for Mining Products Subject to Export Duties (BK). The regulations apply for the period September 1–14.

“The increase in the ERP and RP for gold during the first week of September was driven by several factors, one of which is rising demand amid limited supply,” said the ministry’s Director General of Foreign Trade, Tommy Andana, in a statement in Jakarta on Monday, August 31, as quoted on the ministry’s official website.

Tommy said the weakening of major global currencies and declining international bond yields have also supported gold prices. Expectations of policy rate cuts by several global central banks have further strengthened market sentiment.

“These dynamics have prompted market participants to shift their capital into gold, which is considered a safe‑haven asset with a higher level of stability,” he said.

He added that stronger investor interest has directly increased global gold demand. Meanwhile, the ERP and RP settings are based on technical data from the Ministry of Energy and Mineral Resources and publications from the London Bullion Market Association (LBMA).

The setting process involves the Coordinating Ministry for Economic Affairs, the Ministry of Energy and Mineral Resources, the Ministry of Finance, and the Ministry of Industry. “The ERP and RP for gold are set through inter‑ministerial coordination, taking into account information, data, and technical input from relevant ministries and agencies,” Tommy said. ***