Gold Bank to Secure Raw Material Supply for Jewellery Industry

The national jewellery industry requires more secure access to raw materials, both in terms of quantity and quality, according to the Ministry of Industry. Director General of Small, Medium, and Miscellaneous Industries (IKMA) Reni Yanita stated in Jakarta on Thursday that the existence of a gold bank could provide a guarantee of raw materials in terms of both quantity and quality. “The benefit is actually a guarantee of raw materials that are safe in terms of quantity and quality,” Reni said. She explained that certainty of raw material supply would enhance the competitiveness of the jewellery industry, particularly for export-oriented businesses. This is because, in export transactions, payments are often made in the form of gold or precious metals, not just in currency. She added that if raw material needs can be met domestically, the jewellery industry will gain several advantages, ranging from cost efficiency to faster production processes. “If the precious metals, the raw materials, can be obtained domestically, it will automatically be cheaper, more secure, and faster in terms of time,” she said. The ministry noted that the performance of the national jewellery industry is showing an increasingly positive trend. Throughout January to December 2025, the export value of jewellery and precious goods reached USD 9.1 billion, an increase of 64.73 per cent compared to the USD 5.5 billion recorded in 2024. Furthermore, data from the World Gold Council indicates that global demand for gold bars continues to rise, reaching 1,402 tonnes in 2025, up 16 per cent from 1,208 tonnes the previous year. President Prabowo Subianto previously praised the national gold bank service, or bullion bank, which has managed 153 tonnes of gold with an estimated value of USD 20 billion since its launch in 2025. During a briefing at a plenary cabinet session at the State Palace in Jakarta on Monday (20/7), the President stated that many achievements had been made during his 20 months in office, including the establishment of the gold bank service managed by Pegadaian and Bank Syariah Indonesia (BSI). “For the first time in the history of the Republic of Indonesia, Indonesia has a gold bank, a bullion bank, which now manages 153 tonnes of gold,” Prabowo said.