Gold Drops IDR 28,000 Per Gram Amid Market Volatility

On May 28, 2025, the price of gold exhibited significant volatility, with the metal trading at IDR 1,895,000 per gram at 08:23:38, down IDR 28,000 from the previous day. This decline indicates a temporary shift in market sentiment, potentially influenced by various economic indicators and geopolitical events.

The overall trend for gold in 2025 has been upward, with the metal increasing by 696.99 USD per troy ounce or 26.56% since the beginning of the year. This significant rise indicates that gold continues to be seen as a safe haven asset, particularly in times of economic uncertainty. The upward trend is further supported by the current support levels for gold, which are set at $3280, $3220, and $3150 per ounce. These levels provide a floor for the price, suggesting that any significant drops are likely to be temporary.

In the early U.S. trading session on May 28, 2025, gold prices posted modest gains. This increase can be attributed to trader and investor risk appetites, which are often influenced by upcoming economic data releases and central bank policies. The anticipation of the Federal Open Market Committee (FOMC) minutes, which provide insights into the Federal Reserve's monetary policy decisions, has also contributed to the cautious optimism in the market.

The price of gold jewelry also saw variations on May 28, 2025, with 9-carat gold priced at IDR 506,000 and 18-carat gold at IDR 1,273,000. These prices reflect the broader trends in the gold market and highlight the impact of gold prices on the jewelry industry. The variations in gold jewelry prices can be attributed to factors such as the type of gold and market demand.

In summary, the current price of gold as of May 28, 2025, reflects a market that is both volatile and resilient. The recent decline in gold prices is a temporary setback in an otherwise upward trend, driven by the metal's status as a safe haven asset. The modest gains in early U.S. trading and the anticipation of key economic data releases further underscore the dynamic nature of the gold market. As investors continue to monitor economic indicators and geopolitical events, gold is likely to remain a critical asset in their portfolios.