JAKARTA - The Ministry of Trade (Kemendag) said that the decline in the export benchmark price (HPE) and the reference price (HR) of gold commodities in the second period of June 2026 was triggered by a decline in interest in investment in the metal.
In the statement from the Ministry of Trade in Jakarta, quoted by Antara, Tuesday, June 16, it was stated that the gold HPE was set at 143,190.64 US dollars per kilogram or down 3.51 percent from the first period of June 2026 which was 148,396.49 US dollars per kilogram.
Gold HR also fell to 4,453.73 US dollars per troy ounce (toz) from 4,615.65 US dollars per ounce.
Director General of Foreign Trade at the Ministry of Trade Tommy Andana said the decline in gold HPE and HR in the second period of June 2026 occurred due to interest rate policies in various developed countries which were at a high level so as to suppress the price of gold.
"There has been a decline in investor interest in gold as an investment instrument due to high interest rates that increase the attractiveness of interest-bearing assets," said Tommy.
In terms of demand, global gold buying activity tends to slow down as the international market volatility continues.
Meanwhile, the supply of gold that remains maintained amid weakening demand has also led to a price correction in the international market and has an impact on the decline in HPE and HR gold.
Tommy said that during the data collection period, the value of gold fell by 3.51 percent.
HPE and HR gold are set in the Minister of Trade Decree (Kepmendag) Number 1453 of 2026 concerning the Export Reference Price and Reference Price for Mining Products Subject to Export Duty. The Kepmendag is valid for the period 15-30 June 2026.
Gold HPE and HR are determined based on data and technical input from the Ministry of Energy and Mineral Resources (ESDM) which refers to the London Bullion Market Association (LBMA) publication.
The determination process is carried out through cross-ministerial and inter-agency coordination based on information, data, and input submitted by the Coordinating Ministry for Economic Affairs, the Ministry of Energy and Mineral Resources, the Ministry of Finance, and the Ministry of Industry.
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