Analysts Highlight Risks of Buying Antam Gold via Jastip: Unreasonable Prices and Scarcity

JAKARTA, KOMPAS.com - The phenomenon of jasa titip (jastip) services for gold from PT Aneka Tambang Tbk is increasingly prevalent amid high public interest in precious metals. Behind this trend, analysts remind of risks that need to be considered, from potential price distortions to buying decisions driven by fear of missing out (FOMO). Economist and Head of the Macroeconomic and Finance Centre at the Institute for Development of Economics and Finance, M Rizal Taufikurahman, views this phenomenon as reflecting an imbalance between surging demand and limited retail distribution. “This phenomenon reflects a mismatch between the surge in demand and the limitations of retail distribution,” Rizal said when contacted by Kompas.com on Tuesday (21/4/2026). When access to limited goods arises, parties emerge to exploit the gap for profit, including by queuing and reselling to other consumers. However, he warns that this practice has the potential to create price distortions when purchases become concentrated in the hands of certain actors. “When purchases start to be monopolised and resold with a markup, prices no longer fully reflect fundamentals, but also rents from limited access,” he said. Rizal explained that under normal conditions, retail gold prices have relatively thin margins. Therefore, additional jastip service fees can directly reduce the potential investment returns. “In many cases, buying decisions are driven by FOMO, not valuation, so the risk of overpaying is high,” Rizal stated. In addition, jastip practices are seen as potentially creating artificial scarcity in the market. When stock at official boutiques is absorbed by jastip actors, availability for general consumers becomes limited, creating the perception that gold is hard to obtain. This situation then drives up prices in the secondary market and creates inefficient price biases. In the long term, this can harm retail consumers who buy at higher prices than fair value. He emphasised that gold remains a good hedging instrument, but buying strategies must be carried out in a disciplined manner and not hastily following trends. Amid these warnings, jastip practices continue to grow as they meet the needs of urban society with limited time. Kiki (25), a resident of East Jakarta, is one of the jastip actors who directly experiences the high demand. She started running the jasa titip service from early 2025 after seeing many people wanting to buy Antam gold but lacking time to visit the boutique. “Many want to buy official Antam, but they don’t have time to queue. In the end, they seek out jastip,” Kiki said when contacted.