Gold Mining Stocks Strengthen at the Start of the Week Amid Slowing Global Gold Prices

At the start of this week’s trading session on Monday (March 17, 2025), gold-related stocks saw gains, despite global gold prices slightly declining after reaching a record high of US$3,000 per ounce.

On the global commodities market, spot gold prices edged up 1.23 points or 0.04% to US$2,985.37 per ounce as of 12:00 PM WIB. Meanwhile, Comex gold was recorded at US$2,995.2 per ounce, following a recent peak of US$3,004.94 per ounce on Friday (March 14, 2025).

According to Bloomberg, the rise in gold prices was driven by US President Donald Trump’s aggressive trade tariff policies and fears of a US recession. Several financial institutions have raised their gold price forecasts, citing heightened economic uncertainty caused by Trump’s trade policies, which have increased demand for safe-haven assets like gold.

For instance, Macquarie Group predicts that gold prices could surge to US$3,500 per ounce by Q2 2025, while BNP Paribas SA has adjusted its outlook, estimating an average gold price of US$3,000 per ounce.

Gold Mining Stocks Rally on the Indonesia Stock Exchange

The fluctuation of gold prices around US$2,900 per ounce has also driven up the stock prices of gold-related companies listed on the Indonesia Stock Exchange (IDX).

According to Bloomberg, by the end of the first trading session, PT Merdeka Copper Gold Tbk. (MDKA) saw the biggest gain, rising 7.84% to Rp1,445 per share.

Other gold-related stocks also showed strong performance:

• PT Aneka Tambang Tbk. (ANTM) gained 3.46% to Rp1,645
• PT Bumi Resources Minerals Tbk. (BRMS) climbed 2.67% to Rp384
• PT Archi Indonesia Tbk. (ARCI) rose 1.44% to Rp282
• PT Amman Mineral Internasional Tbk. (AMMN) increased 2.83% to Rp6,350

On the contrary, PT Hartadinata Abadi Tbk. (HRTA) recorded a slight decline of 0.94%, closing at Rp525 per share.