Global Gold Price Holds Steady at 5,017 US Dollars per Ounce

Jakarta — Global gold prices moved steadily during Monday trading (16 March 2026) in local time or the beginning of Asian trading sessions.

The precious metal held firm in the region of 5,000 US dollars per ounce.

A weakening US dollar has helped contain downward pressure on gold prices. This situation is occurring amid fading expectations for interest rate cuts by the Federal Reserve.

According to Economic Times, the gold price in the spot market remained unchanged at 5,017.53 US dollars per ounce at 08.01 Western Indonesia Time.

This value is equivalent to approximately 79.2 million rupiah per ounce, based on an exchange rate assumption of 15,780 rupiah per US dollar.

The US dollar weakened slightly during early week trading.

This condition has made gold more affordable for holders of other currencies. Investor demand for gold has tended to increase.

The yield on US government bonds with a 10-year tenor has also recorded a decline.

This yield decline has increased the appeal of gold as a safe-haven asset.

Gold does not provide returns like bonds. The decline in bond yields has made the precious metal relatively more attractive to investors.

Pressure on the market continues to emerge from a surge in global oil prices.

The conflict has increased risks to energy infrastructure in the Middle East.

The Strait of Hormuz remains closed, triggering disruptions to global oil supplies.

The strait is an important route for global energy trade. The majority of global oil supplies pass through this route.

Rising oil prices have the potential to trigger inflation. Transportation and production costs could increase due to surging energy prices.