Indonesia holds the world's sixth-largest gold reserves, estimated at around 2,600 tonnes.
Officials from the Coordinating Economy Ministry, the Finance Ministry, the Financial Services Authority and self-regulatory organizations (SROs) launched the first gold ETF on Monday at the Indonesia Stock Exchange (IDX) office in Jakarta. (TJP/Ni Made Tasyarani)
The Indonesia Stock Exchange (IDX) has launched the first exchange-traded funds (ETFs) backed by physical gold in a move aimed at strengthening the nation’s bullion ecosystem.Authorities have also touted the initiative as a way to improve financial inclusion by bridging the capital market to the bullion ecosystem, while offering investors a new alternative to gain exposure to the precious metal.
Speaking at the launch event on Monday, Deputy Finance Minister Juda Agung described the rollout as part of concrete steps toward the authorities' ongoing capital market reform agenda, which includes goals such as boosting liquidity and deepening the capital market.
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