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GOLD PRICE - On Friday (9/18/2026), the price of certified gold bars from PT Aneka Tambang Tbk (ANTM)'s Logam Mulia recorded an increase of Rp 25,000 per gram.
Antam gold prices stand at Rp 2,623,000 per gram, rising from the previous Rp 2,598,000 per gram.
What is the current spread between Antam gold purchase and buyback prices?
| Category | Price (per gram) |
| Antam Gold Price | Rp 2,623,000 |
| Buyback Price | Rp 2,458,000 |
| Spread | Rp 165,000 |
On the other hand, the buyback price set by Logam Mulia rose by Rp 20,000 per gram, moving from the previous Rp 2,438,000 per gram to Rp 2,458,000 per gram.
Based on Kontan.co.id calculations, the spread between the gold purchase price and the buyback price is Rp 165,000 per gram.
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Antam establishes two distinct pricing categories for its gold bar production: the purchase price and the buyback price. The gold price listed above applies when purchasing gold directly from Logam Mulia outlets. Meanwhile, the buyback price applies when selling gold back to Logam Mulia.
Consequently, purchasing gold from Antam requires paying Rp 2,623,000 per gram. In the event of an urgent liquidity need requiring an immediate sale on the same day, the gold will be valued at Rp 2,458,000 per gram by Logam Mulia. Investors aiming for serious participation in physical gold must carefully monitor these dual pricing metrics to avoid miscalculating potential gains and losses.
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Long-Term Investment Profitability Analysis for Gold Bars
Given the substantial gap between the selling and buying prices, physical gold is suitable exclusively for long-term investment horizons. Over an extended period, investors anticipate sufficient price appreciation to clear the initial spread and generate net returns.
For illustrative purposes, the historical simulation below outlines potential profit or loss outcomes for gold investors across several periods:
| Purchase Date | Price per gram | Potential Profit/Loss |
| September 11, 2026 | Rp 2,600,000 | -5.46% (loss) |
| August 18, 2026 | Rp 2,695,000 | -8.79% (loss) |
| June 18, 2026 | Rp 2,703,000 | -9.06% (loss) |
| March 18, 2026 | Rp 2,996,000 | -17.96% (loss) |
| December 18, 2025 | Rp 2,487,000 | -1.17% (loss) |
| September 18, 2025 | Rp 2,098,000 | 17.16% (gain) |
| June 18, 2025 | Rp 1,943,000 | 26.51% (gain) |
| March 18, 2025 | Rp 1,745,000 | 40.86% (gain) |
| December 18, 2024 | Rp 1,520,000 | 61.71% (gain) |
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