Gold Price Breaks Through Rp 3.1 Million per Gram, BSI Ensures Stock Is Safe

Gold prices continued to rise amid the war involving Iran and Israel. As of 4 March 2026, the price of the precious metal had touched around Rp3.1 million per gram, or more than 50 percent higher than a year earlier. This surge has prompted the public to again look to gold as a hedging instrument amid global uncertainty. The spike in demand is reflected in the gold business at PT Bank Syariah Indonesia Tbk (BSI). The Sharia-compliant bank reported that the number of bullion-bank customers grew by 44 percent year to date (January–February 2026). Moreover, gold sales for the year 2026 had already reached 58 percent of last year’s total sales. The rise in demand is attributed to ripples of geopolitical tensions in the Middle East that have pushed up global gold prices. In such a situation, people tend to seek instruments considered safe and stable. BSI’s Director of Sales and Distribution, Anton Sukarna, said the company has anticipated the surge in demand. “Going forward, we see demand for gold continuing to rise,” he said in Jakarta on Wednesday (4 March 2026). “To that end, BSI will ensure readiness on the supply side, as well as educate customers so that gold investments are undertaken gradually and with a long-term orientation. Under any circumstances, BSI consistently anticipates adequate stock availability from suppliers and good inventory management,” Anton added. He said BSI ensures the availability of gold remains maintained through partnerships with several suppliers. The bank also opens the possibility of adding new suppliers, taking risk management into account. In terms of service, Anton said gold purchases can be made in real time through the BYOND super app. The public can start buying gold with a nominal value of around Rp50,000. Customers can also transfer gold balances in grammes to other BSI gold accounts. For those who wish to mint physical gold, applications can be made via the app and collected at the chosen branch. Against the backdrop of rising prices, Anton added, the trend shows gold again becoming a choice for people to preserve asset value while taking advantage of the momentum of price increases.