Gold rate today in Jakarta (IDR)

What gold costs in Jakarta today

At the last update, one gram of 24k gold in Jakarta works out to about 2,331,019 IDR, and a gram of 22k to about 2,136,845 IDR. Per 10 grams, a common size for small bars and rate boards, that is about 23,310,193 IDR for 24k. These are spot-based figures, before any tax, premium or making charge. Jakarta shops quote both a selling price and a buy-back price per gram, and the gap between them is the clearest measure of what owning jewellery costs.

What moves the gold price in Jakarta

Two numbers set the gold price in Jakarta: the international price in US dollars, about $4,007.9 per ounce at the last update, and the USD/IDR exchange rate, now 18,089.97. The rupiah floats and has weakened against the dollar over the long run, so the rupiah gold price has a built-in tailwind in years when the currency slides. A move of a few hundred rupiah in USD/IDR shifts the per-gram rate noticeably, because a gram costs well over a million rupiah.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Jakarta

The shelf price in Jakarta is higher than the converted figure above. A shop adds the shop's margin, workmanship on jewellery and any tax that applies to the product. On jewellery, making charges are usually folded into the per-gram price of jewellery, with a separate buy-back price that is lower, so two pieces of the same weight and purity can carry very different prices. Bars from the state-owned refinery and coins are 24k; everyday jewellery is often sold below 24k, so it pays to check the stated purity.

Where gold is bought in Jakarta

The gold shops around Cikini and in traditional markets across the city sell jewellery, while the state-owned refinery's boutiques and bank branches sell 24k bars. When comparing shops, ask for the gold rate per gram, the purity, the making charge and the buy-back price separately; that is the only way to see which offer is really cheaper.

Buying seasons in Jakarta

Demand peaks before Lebaran, when families buy gold with holiday bonuses, and around weddings, where gold is often part of the mahar. Across Indonesia, demand is strongest around Ramadan and Lebaran (Eid al-Fitr), and weddings, where gold is a common part of the mahar. Seasonal demand tends to show up in shop premiums, promotions and queues rather than in the international price, which is set by global flows. Knowing the calendar helps explain why a local quote can look expensive or cheap against this page in a given week.

Gold market hours in Jakarta

The international gold market trades almost around the clock on weekdays. In Jakarta the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 19:00–23:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 16:30 and 21:00 in Jakarta, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 19:30 local time. The week's trading closes at 04:00 on Saturday and reopens at 06:00 on Monday, Jakarta time; over the weekend the price on this page is the last close. Gold savings accounts and pawnshop gold schemes are popular, and almost every neighbourhood market has a toko emas (gold shop). Our gold market hours tool shows the sessions in any time zone.

Jakarta compared with Singapore

A common question is whether gold is cheaper in Singapore. On the converted spot price neither city is cheaper: Singapore quotes about 164.70 SGD per gram of 24k, which is the same $128.86 per gram as Jakarta's 2,331,019 IDR. What differs is what each market adds. In Jakarta that is the shop's margin, workmanship on jewellery and any tax that applies to the product; in Singapore it is GST on jewellery (investment-grade bars and coins have been exempt from GST since 2012), workmanship charges and the dealer's margin. Buying abroad also means paying an exchange margin and checking the customs allowance at home.

How this IDR gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,007.9 at the last update. Second, the exchange rate: 1 USD = 18,089.97 IDR. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,007.9 ÷ 31.1035 = $128.86.
2. Price per gram in IDR = $128.86 × 18,089.97 = 2,331,019 IDR (24k, pure gold).
3. Price per 10 grams = 2,331,019 × 10 = 23,310,193 IDR.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.750.

The gold price comes from COMEX gold futures, which track spot XAUUSD closely but are not identical to it. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Jakarta, but they are not the price you will pay or receive at a shop. The retail or "jeweller" price adds some or all of these on top:

• Import duty or customs charges, where the country imports most of its gold.
• Sales tax, GST or VAT, which may apply to jewellery, to bars and coins, or to both, depending on local law.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions