Global Risk-Off Sentiment Lifts Gold Prices; JFXGOLD X Strengthens 1.15%

Jakarta, MetalNews Digital — Global financial markets have entered a "risk-off" phase as a combination of Federal Reserve (The Fed) monetary policy adjustments, escalating tariff tensions, and rising geopolitical friction become the dominant factors across all asset classes. These conditions have bolstered demand for safe-haven assets, maintaining gold prices firmly within the $4,650–$4,660 per troy ounce range. This upward movement is supported by a weakening U.S. Dollar (USD) and downward pressure on real yields, as markets anticipate a more dovish Fed stance at the end of the tightening cycle.

Opening this week's trading on Monday (Jan 19, 2026), gold prices on the JFXGOLD X Physical Gold Exchange strengthened by 1.15%, or approximately Rp22,000 per gram. This surge positioned JFXGOLD X physical gold at $4,654.12 per troy ounce, equivalent to Rp2,570,494 per gram. The increase reflects the continued flow of capital into safe assets amid heightened global uncertainty.

From a fundamental perspective, Robby Leonardo, Head of Research Analysis and Market Development at Metalbank Global Monetary, noted that rising tariff and geopolitical tensions, alongside USD weakness, have re-emerged as primary catalysts for gold—historically viewed as a non-yielding store of value. Simultaneously, real yields remain under pressure as the market prices in potentially accommodative Fed policies, thereby reducing the opportunity cost of holding bullion. Regarding sentiment, institutional hedging, inflows through Exchange-Traded Funds (ETFs), and options market activity indicate strong "buy-on-dip" behavior.

"In the foreign exchange market, the USD/IDR exchange rate is moving within a range of 16,700–17,000. This movement reflects the cautious stance of market participants responding to global dynamics, while corporate hedging activities tend to be executed gradually," Robby Leonardo told the MetalNews Digital team this morning.

Meanwhile, the U.S. stock market continues to show narrow leadership, particularly within the technology sector, leaving index movements vulnerable to shifts in sentiment. Domestically, the Jakarta Composite Index (IHSG) moved within a limited range, supported by domestic investor participation, though its future direction remains heavily dependent on foreign capital flows.

Global oil prices fluctuated as the market reacted to geopolitical developments and global supply signals, with volatility continuing to be driven by short-term events.

Real-time monitoring of gold prices and transactions on the JFXGOLD X Physical Gold Exchange Platform can be accessed via the METALGO+ and NUNOMICS apps, as well as the Pospay Gold feature within the Pospay application.

Disclaimer: The price information and market analysis provided are for informational purposes only and do not constitute investment advice. Market conditions are subject to rapid change. Please conduct personal analysis and exercise individual judgment before making any financial decisions.

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