Airlangga Sets Ambitious Target, Challenges Indonesia's Gold ETF to Surpass India and Singapore

Coordinating Minister for Economic Affairs Airlangga Hartarto is optimistic that the gold exchange-traded fund (ETF) product recently launched in Indonesia can grow rapidly and surpass the development of similar instruments in India and Singapore in the near future.

Airlangga conveyed this confidence during the 49th Anniversary of the Indonesian Capital Market and the launch of the gold ETF at the Indonesia Stock Exchange (BEI) building in South Jakarta on Monday, 10 August 2026.

According to Airlangga, this optimism is supported by the substantial potential supply of gold within the country. One source of particular interest is the gold deposits managed by PT Pegadaian (Persero).

Airlangga stated that the gold deposits managed by Pegadaian amount to 153 tonnes, with a value of approximately US$20 billion. This significant potential is considered an important asset for driving the growth of gold ETFs in Indonesia.

“India can actually be overtaken by us quickly. We will be able to surpass Singapore in a short time. And with that, of course, we can go even deeper, and I am pleased because with ETFs, insurance companies can invest in gold,” Airlangga said at the event.

A gold ETF is an investment product that allows the public to gain exposure to gold without having to purchase and store physical gold bars directly.

In simple terms, a gold ETF can be understood as a gold-based investment instrument traded on the exchange. Its value follows the movement of gold prices.

With this mechanism, investors can invest in gold through the capital market without needing to store physical gold bars directly.

For Airlangga, the presence of a gold ETF not only adds investment options for the public. The instrument is also considered to have the potential to strengthen Indonesia’s financial sector ecosystem.

The large domestic gold deposits are one of the reasons the government is optimistic about the prospects of this instrument. With the gold potential already available domestically, Airlangga sees that the growth potential for Indonesia’s gold ETF remains very large.

Airlangga said the presence of a gold ETF is also a concrete step to connect various parties within the capital market and banking ecosystem.