Global gold prices have once again reached record highs ahead of the trading session on October 17, 2025, driven by rising demand for safe-haven assets and expectations of monetary policy easing.

According to Treasury Indonesia, as of Friday morning at 06:25 WIB, the spot gold price increased by approximately 0.78% to around US$ 4,358.99 per troy ounce, marking a new record in global precious metal trading.

Meanwhile, Liputan6 reported that in the previous trading session, gold prices had reached US$ 4,343.63 per ounce, extending the four-day consecutive rally.

Factors Driving the Price Increase

Several key factors contributing to this record high include:

• Expectations of a Fed rate cut: Markets are increasingly anticipating that the Federal Reserve will start lowering interest rates, prompting a shift of capital toward non-yielding assets like gold.

• Geopolitical tensions and global uncertainty: Rising trade tensions between the US and China, along with fiscal uncertainty in the United States, reinforce gold’s perception as a safe-haven asset.

• Institutional and central bank demand: Central banks and institutional investors continue to increase gold reserves as part of diversification strategies, adding buying pressure to the physical market.

ANZ Bank even projects that gold prices could surpass US$ 4,400 per ounce before the end of 2025.

Impact on the Indonesian Domestic Market

The global uptrend has also affected the domestic market. On October 17, 2025, Antam gold prices rose sharply to Rp 2,485,000 per gram, an increase of Rp 78,000 per gram compared to the previous level — marking the highest daily surge on record.

Similarly, the gold buyback price (the price at which investors sell gold back to the buyer) rose to Rp 2,334,000 per gram from the previous level.

Medium-Term Outlook

Although the current rally is strong, some analysts warn of potential technical corrections due to fluctuating global market conditions. Economies.com notes that after surpassing the US$ 4,300 mark, gold experienced intraday profit-taking.

Looking ahead, gold price movements will largely depend on US monetary policy signals, global geopolitical developments, and inflation rates in major economies. If the Fed does not cut interest rates as expected, selling pressure may emerge, although the long-term trend remains positive.