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View all search resultsIndonesia emerging as key gold market, WGC says
Indonesia is fast becoming one of the world’s key gold markets, where cultural familiarity, rising incomes and strong market performance are among the factors driving demand, according to a consumer survey by the World Gold Council.
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An employee holds up packets of gold bullion on Oct. 15, 2025, at the Butik Emas LM Antam outlet, a public gold vendor operated by state-owned miner PT Aneka Tambang (Antam), inside the Setiabudi One shopping mall in South Jakarta. (Antara/Reno Esnir)
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ndonesia is emerging as one of gold’s “key markets of the future” that “might one day even rival China and India as major consumers of gold”, according to the World Gold Council (WGC).
The council’s new consumer insights report, titled Gold for the Nation: Strengthening the Financial Resilience of Indonesians, reveals that 67 percent of Indonesians have some exposure to the precious metal, positioning the country as a fast-rising player supported by a young population, growing incomes and long-standing cultural familiarity.
The WGC points to recent performance of the gold market, which has outpaced domestic equities and bonds, as a key driver of this momentum.
“Gold has had an extraordinarily strong performance, whether in dollar terms or rupiah terms, and you can see how it's compared to other major asset classes as well, including Indonesian equities and Indonesian bonds. It's really been a star performer both this year and last year,” Shaokai Fan, head of Asia-Pacific excluding China and global head of central banks at the WGC, said in Jakarta on Wednesday.
Read also: Gold rally sparks calls for BI to diversify beyond the dollar
The report, based on a survey that involved 2,000 respondents nationwide, indicates that gold ownership is both broad and deeply rooted in Indonesia.
Fan noted that “two-thirds of Indonesians have some exposure to gold” through various types of gold investment, such as jewelry, bars, coins, ETFs and savings products.
