June 1, 2026 | 04:10 pm
TEMPO.CO, Jakarta - Indonesia's Ministry of Trade mentioned that the decrease in gold export benchmark prices (HPE) and commodity reference prices during the first half of June 2026 was influenced by increasing investors' interest in yield-based financial instruments.Based on information from the ministry in Jakarta on Monday, June 1, 2026, the HPE for gold decreased by 1.43 percent to US$148,396.49 per kilogram from US$150,555.29 per kilogram in the second period of May 2026. Meanwhile, the gold reference price also decreased to US$4,615.65 per troy ounce from US$4,682.80 per troy ounce."During the data collection process, the price of gold corrected by 1.43 percent. In addition to being influenced by the shift in investor preferences to yield-based instruments, the gold market entered a consolidation phase which encouraged profit taking," said Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, on Monday, as quoted from ANTARA.Tommy added that international gold prices are also influenced by global monetary policy and the state of the world economy.The provisions for HPE and Reference Prices are established in Minister of Trade Decree Number 1416 of 2026 concerning Export Benchmark Prices and Reference Prices for Mining Products Subject to Export Duty applicable for the period of June 1-14, 2026.HPE and gold reference prices are determined based on technical data and input from the Ministry of Energy and Mineral Resources (ESDM), which considers price developments in the international market. Meanwhile, the gold price is based on the publication of the London Bullion Market Association (LBMA).The determination of HPE and gold reference prices is carried out through a mechanism of cross-ministerial and institutional coordination, taking into consideration the latest market data, information, and developments analyzed together with the Coordinating Ministry for the Economy, Ministry of ESDM, Ministry of Finance, and Ministry of Industry.Read: Antam Gold Prices Drop Again to Rp2.754 MillionClick here to get the latest news updates from Tempo on Google News
