Gold Price Indonesia

August 4, 2022

The above gold price in Indonesia is updated each minute. Data is retrieved continuously from all major marketplaces (LBMA/NYMEX, GLOBEX and HONG KONG) 24 hours a days, 7 days a week.

The “spot price” is the reference price for one troy ounce. This unit of measurement is used on professional spot trading markets. A troy ounce is 31.1 grams.

You can view all rates on based on the spot price in EUR (Euros), Swiss Francs, British Pounds (GBP) and more currencies like CNY.

Every minute, the Indonesia gold price is updated. This data is derived from the gold price converted to US Dollars at the USD/IDR exchange rate.

Historic Gold Price Indonesia

Gold Price Indonesia

Officially, Indonesia is known as the Republic of Indonesia. The nation is located in Southeast Asia and is transcontinental. The country also owns territories in Oceania. Indonesia is the world’s largest island nation, with an estimated population of 261 millions. This makes Indonesia one of the most populous countries in the world. The Indonesian government is a unifying presidential constitutional republic.

The official currency of Indonesia is the Indonesian Rupiah. The Sanskrit word “rupya”, which means wrought-silver, is the ultimate source of the name rupiah. The rupiah, like many other global currencies can be subdivided into 100 smaller units called sen. Inflation has made these smaller units obsolete.

The central bank of Indonesia (also known as Bank Indonesia) issues and controls the Indonesian Rupiah. The nationalism of De Javasche Bank led to the establishment of the central bank in 1953, three years after Indonesia gained independence from The Netherlands. The bank’s primary goals include price stability, maintaining the payment system, and monetary management.

You will see prices in Indonesian currency in ounce and gram. You may also find prices in U.S. dollars. Dollars, Japanese Yuen, Great British Pounds, or euros.

Indonesia is the largest economy in the region, and it is considered an emerging market economy. Natural gas, petroleum, textiles and machinery, software, rubber and apparel, as well as hardware, are some of the country’s major industries. Indonesia is a member the G-20 and is among the top 10 countries in terms of its GDP. Since the 1990s, Indonesia has received significant foreign investment.

The largest gold mine in the world and the second-largest copper mine are both located in Indonesia. The Grasberg Mine, located in the Papua Province close to Puncak Jaya, the largest mountain in Papua is called Puncak Jaya. Freeport-McMoran is the primary owner of the mine. The company employs almost 20,000 people at the mine. It maintains its ownership through several subsidiaries. The mine produced 1,061,000 ounces gold in fiscal year 2016.

Indonesia is home to a large market for gold jewelry. This can have an impact on the gold price in Indonesia. Investors may also seek gold. Gold has the potential to appreciate in value and may be used as a hedge against many economic and geopolitical issues, including inflation, deflation and declining paper currency values.

The LBMA (London Bullion Market Association) has certified the Antam refinery’s fine and silver products. The company can refine gold to a purity level of 999.9 per cent. A refinery can also produce 60 tons (1.9million toz) of internationally certified gold annually.