Gold as Safe Haven Asset Makes Gold Business ANTAM's Main Engine
Jakarta - Global gold prices are expected to set new records this year. Referring to Refinitiv data, the gold price at the beginning of June stood at US$4,543.55 per troy ounce, strengthening 0.15% from trading at the end of May. JP Morgan projects that world gold prices will surpass US$6,000 per troy ounce by 2026. This price projection is triggered, among other things, by rising geopolitical tensions that threaten global economic stability. Analysts at the financial institution explained that the price surge was driven by the increasing popularity of gold as a safe haven asset amidst uncertainty and stock market fluctuations. They assessed that gold’s price movement, which grew by 64% throughout 2025, provides a strong foundation for higher price increases in the coming period.
Amid these rising price projections, the global gold market is undergoing significant changes. For years, gold demand was largely supported by the jewellery sector and central bank purchases. A surge in gold demand is also occurring in Indonesia, with more people choosing to invest in gold. This is also reflected in ANTAM’s move to expand its precious metal product trading network through collaborations and strengthening the national gold ecosystem.
ANTM currently provides physical gold products as well as digital physical gold for people who wish to invest. This digital physical gold offers convenience as ownership and transactions can be accessed via mobile phones. For people who want to invest in gold but do not wish to deal with the hassle of storing physical gold, ANTM also provides the BRANKAS (Secure Gold Management Plan) product. BRANKAS is one of the digital physical gold product sales services offered by Antam.
The growing interest in gold is also reflected in ANTAM’s excellent performance, which recorded its best performance in history in 2025. ANTAM recorded revenues of Rp84.64 trillion in 2025, an increase of 22% compared to the previous year. The company also posted a net profit for the year of Rp7.92 trillion, significantly growing by 106% compared to its achievement in 2024. This stellar performance was also supported by ANTAM’s gold sales, which were recorded at Rp66.47 trillion throughout 2025, an increase of 15% compared to Rp57.56 trillion in 2024, underpinned by sustained strong demand. ANTAM’s President Director, Untung Budiharto, stated that 2025 became an important milestone in the Company’s journey. “Amidst global market dynamics and industry challenges, ANTAM succeeded in recording the best operational and financial performance in the Company’s history,” said Untung. He affirmed that this achievement reflects the strength of the business fundamentals, the effectiveness of strategies implemented with discipline, and the commitment of all ANTAM personnel in optimising the potential of national mineral resources to create sustainable added value for all stakeholders. ANTAM also continues to run its integrated gold business, from upstream to downstream (mine to market), and synergises with various parties to provide ease, comfort, and security for the public in owning ANTAM gold as a safe and trusted investment instrument.