IDX Waits For OJK Restu For Gold ETF Products

IDX (Photo: Antara)

JAKARTA PT Bursa Efek Indonesia (IDX) is preparing to launch a gold-based mutual fund product, namely the Exchange Trade Fund (ETF) Emas.

Meanwhile, the IDX has held a number of Focus Group Discussions (FGD) with investment managers and the Financial Services Authority (OJK) to formulate this gold-based ETF mechanism.

To note, the gold price again set a record high today, Tuesday, April 22. Antam's Precious Metal Gold 24 Karat recorded an increase of IDR 36,000 per gram and is now trading at the level of IDR 2,016,000 per gram.

IDX Development Director Jeffrey Hendrik, revealed that currently his party is still waiting for the issuance of the OJK Regulation (POJK) which specifically regulates the Gold ETF business license. Previously, OJK had issued POJK Number 17 of 2024 concerning the Implementation of Bullion Business Activities.

"We hope that the OJK regulations related to gold ETF products, yes, if POJK about the bullion business has been issued, and there are already two. What we hope to issue soon is POJK about gold ETF," said Jeffrey to the media crew, Tuesday, April 22.

He added that after the POJK was issued, the IDX would immediately draw up its implementing rules. On the other hand, the IDX also wants to ensure the readiness of investment managers to issue this product.

Jeffrey also mentioned that the Indonesian Central Securities Depository (KSEI) is coordinating with Bullion business actors who have obtained permits to prepare infrastructure for ETF Emas.

Previously, IDX Development Director Jeffrey Hendrik said the IDX targets the launch of Gold ETF products this year and the Gold ETF will be an alternative investment for people who previously invested in gold physically, both for individual and institutional investors.

Our target is this year. It's just whether it will be carried out in the third quarter or the fourth quarter. We'll update it again later," said PT IDX Development Director, Jeffrey Hendrik, to reporters, Thursday, February 27.

Gold Price Record

Meanwhile, Antam 24 Karat's gold price today rose significantly by Rp. 36,000 per gram and set a new record at Rp. 2,016,000 per gram. This is the first time Antam's gold price has crossed the figure of Rp. 2 million per gram.

The price of the smallest unit gold (0.5 grams) is priced at IDR 1,058,000. Meanwhile, 10 grams of gold sells for IDR 19,655,000, and the largest size, which is 1,000 grams (1 kg), reaches IDR 1,956,600,000.

In the past week, Antam's gold price has moved in the range of Rp. 1,896,000' Rp. 2,016,000 per gram, while in the past month it has been in the range of Rp. 1,754,000' Rp. 2,016,000 per gram.

Antam's gold buyback price also increased by Rp. 36,000 and is now at the level of Rp. 1,865,000 per gram. Buy back price is the value that Antam uses to buy gold back from consumers.