Gold Rush: Indonesians Turn to Precious Metal Amidst Economic Uncertainty

As Indonesia faces economic challenges due to U.S. tariffs, many are purchasing gold bars as a safe investment. With the rupiah dropping and stock markets plummeting, gold sales at stores like Galeri24 have increased significantly. Investors see gold as a hedge against inflation and currency devaluation.

In Indonesia, a wave of economic uncertainty driven by U.S. President Donald Trump's tariffs has prompted residents to seek refuge in gold, leading to a surge in the precious metal's sales. Economists note that, while Indonesia depends on its domestic market, concerns over export future have rattled financial markets.

Galeri24, a prominent gold store chain, reported tripling its sales, with daily transactions surpassing 65 kg as Indonesians turned to gold for financial security. The steady stream of buyers often extends a branch's operating hours, a testament to the metal's perceived stability amid market volatility.

The slump in the rupiah and stock market has influenced investors like Suhud Syahrani to opt for gold over stocks. Meanwhile, other firms like Pegadaian observe a similar trend, with bulging gold savings accounts underscoring gold's role as a hedge against economic instability.

(With inputs from agencies.)