Announcement! Indonesia's Export Reference Prices and Gold Reference Prices for June 2026
Jakarta, CNBC Indonesia - The Ministry of Trade (Kemendag) has established the Export Reference Price (HPE) and the Reference Price (HR) for gold commodities for the first period of June 2026, showing a downward trend compared to the previous period. This price correction occurs alongside the strengthening of the US dollar and changing preferences among global investors towards financial instruments based on yields.
Based on the Decree of the Minister of Trade (Kepmendag) Number 1416 of 2026 regarding the Export Reference Price and Reference Price for Mining Products Subject to Export Duties, the HPE for gold for the period of 1-14 June 2026 is set at US$148,396.49 per kilogram (kg). This figure represents a 1.43% decrease compared to the second period of May 2026, which reached US$150,555.29 per kg.
Meanwhile, the Reference Price (HR) for gold also experienced a decline to US$4,615.65 per troy ounce (t oz), down from the previous US$4,682.80 per t oz.
The Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, stated that during the gold price data collection period, international prices indeed underwent a correction.
“During the data collection process, gold prices corrected by 1.43 per cent. In addition to being influenced by the shift in investor preference towards yield-based instruments, the gold market has entered a consolidation phase that has prompted profit-taking. On the other hand, the direction of global monetary policy and world economic prospects have also influenced international gold price movements,” said Tommy in his statement, quoted on Tuesday (2/6/2026).
According to him, the increasing interest of investors in financial instruments that provide returns has reduced the attractiveness of gold as a non-yielding asset. This condition has also pressured gold prices in the international market during the observation period.
Tommy explained that the determination of the HPE and HR for gold is conducted based on data and technical input from the Ministry of Energy and Mineral Resources (ESDM), which refers to international price developments. The gold prices used refer to publications from the London Bullion Market Association (LBMA).
“The determination of the HPE and HR for gold is carried out through a cross-ministerial and inter-agency coordination mechanism, considering data, information, and current market developments analysed alongside the Coordinating Ministry for Economic Affairs, the Ministry of ESDM, the Ministry of Finance, and the Ministry of Industry,” he added.
These new provisions are applicable for the period of 1-14 June 2026 and serve as a reference for the imposition of export duties on Indonesian gold mining products.