Gold Prices Plunge, Merdeka Gold Resources Shares Tumble 9 Percent, Briefly Hit ARB
JAKARTA, KOMPAS.com - Shares of PT Merdeka Gold Resources Tbk (EMAS) faced heavy pressure at the start of the Wednesday (25/3/2026) trading session.
Based on Indonesia Stock Exchange (BEI) data at 10:13 WIB, EMAS shares opened down 9.47% to Rp 8,600 from the previous level of Rp 9,500.
The shares even opened directly at their lowest level of Rp 8,075, which is also the auto rejection lower (ARB) limit for today’s trading.
After hitting that level, EMAS share movements attempted a rebound and fluctuated around Rp 8,400 to Rp 8,700, with the daily high at Rp 8,825.
In terms of trading activity, the transaction volume reached 232.65 thousand lots with a transaction value of around Rp 197.14 billion and high frequency. The average price was Rp 8,474, lower than the previous closing price.
From BEI data at 09:30 WIB, ANTM shares were at Rp 3,610 or down 3.73% compared to the previous close of Rp 3,750. At opening, ANTM was at Rp 3,660 but immediately moved down to touch the low of Rp 3,580.
In terms of trading activity, the initial volume was recorded at 175.62 thousand lots with a transaction value of around Rp 64 billion and frequency of 4,580 times.
It is known that global gold prices weakened at the close of Tuesday (24/3/2026) local time, in line with rising expectations of high interest rates amid geopolitical tensions in the Middle East.
Quoting Reuters, spot gold prices fell 0.4% to $4,389.26 per ounce, after hitting the lowest level since November in Monday’s trading.
Meanwhile, US April gold futures contracts closed down 0.1% at $4,402.00 per ounce.
According to him, the decline in gold prices during the long Eid holiday became a direct negative sentiment that will be reflected in the movements of gold-based stocks when the market reopens today.
“For gold sector stocks, in the short term, there is a high likelihood of opening with a gap down following the weakening of global gold prices by around 18% since the Eid holiday,” said Faris when contacted by Kompas.com on Tuesday night (24/3/2026).