Gold Surges to Record Territory as Investors Flock to Safe Havens

Jakarta, MetalNews Digital — Global gold prices are trading near all-time highs, hovering around $4,670 per troy ounce. This rally is driven by intensifying global uncertainty, which has sparked a surge in demand for safe-haven assets.

Trade and political tensions between the United States and the European Union have emerged as primary factors weighing on market sentiment. Approaching threats of tariff implementations and ongoing global geopolitical disputes are prompting investors to shift their portfolios toward gold.

Regarding monetary policy, markets are awaiting the release of the U.S. Personal Consumption Expenditures (PCE) inflation data, a key metric for the Federal Reserve. Uncertainty surrounding interest rate trajectories, combined with concerns over the independence of the U.S. central bank, has further strengthened the appeal of gold.

Gold's solid performance also reflects persistent global risks, including tensions involving Iran and Venezuela. In this environment, gold continues to trade with stable hedging demand as real yields weaken.

Robby Leonardo, Head of Research Analysis and Market Development at Metalbank Global Monetary, noted that at the $4,660 per troy ounce level, gold prices are finding support from central bank purchases and inflows into Exchange-Traded Funds (ETFs). This structural demand serves as a primary pillar for prices amidst global market volatility.

The rise in global prices is mirrored in the JFXGOLD X Physical Gold Exchange, where prices today, Tuesday (Jan 20, 2026), reached $4,674.03 per troy ounce, or Rp2,586,268 per gram.

"In terms of sentiment, institutional interest in gold remains moderate as a hedging strategy. The options market indicates an increasing demand for protection against volatility and downside risks," Robby Leonardo told the MetalNews Digital team.

Meanwhile, in the foreign exchange market, USD/IDR moved within a range of 16,900–17,020. The Rupiah is supported by commodity export flows, particularly nickel, palm oil, and coal. Bank Indonesia’s policies and its readiness to intervene in the forex market have mitigated extreme fluctuations.

Domestic investor sentiment remains positive, while foreign investors maintain a cautious stance. Relatively thin liquidity ensures that market movements remain highly responsive to global data developments and news.

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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