Gold Prices Rise, Antam Ensures Domestic Production is Safe in the Midst of the US-Iran Conflict

Corporate Secretary Division Head of PT Aneka Tambang Tbk (Antam) Wisnu Danandi Haryanto. (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Aneka Tambang Tbk (Antam) revealed that global geopolitical conflicts, especially the American and Iraqi wars, also affected global gold prices.

Corporate Secretary Division Head of PT Aneka Tambang Tbk (Antam) Wisnu Danandi Haryanto said that global gold prices continued to increase, especially since US President Donald Trump took office as head of state.

"The war does indeed affect the price of gold. Indeed, now we can see that the price (of gold) is rising and it is likely to continue to rise as long as the war," Wisnu told the media crew, quoted by Wednesday, March 4.

However, Wisnu admitted that he could not provide further information regarding the impact of the role on global gold prices.

"I myself can't tell if it will affect the price of gold significantly or not, I don't know," he continued.

He also said that the war that was raging would not affect Antam's gold production.

The reason is that Antam produces its own gold sourced from the Pongkor Mine.

Antam produces one ton of gold per year from the Pongkor mine and relies on other domestic sources to meet the needs of the domestic market.

"Antam's gold production, we produce one ton from Pongkor and others we try to find from domestic sources. It should not affect, because we always look for domestic sources to meet the gold needs in Indonesia," he explained.

Wisnu also said that the high public interest in gold was not only driven by the war, but also investment literacy and purchasing power.

"But I think it's not just because of the war. People are also more aware and their purchasing power is stronger to be able to buy gold," said Wisnu.