The Ministry of Trade has announced a decline in the export benchmark price (HPE) and the reference price for gold commodities for the first period of June 2026. This downward trend is primarily attributed to a shift in investor interest toward yield-based financial instruments.
According to official data released by the Ministry of Trade in Jakarta on Monday, June 1, 2026, the gold HPE fell by 1.43 percent to US$ 148,396.49 per kilogram, down from US$ 150,555.29 per kilogram in the second period of May 2026. Simultaneously, the reference price for gold also saw a reduction, dropping to US$ 4,615.65 per troy ounce from the previous US$ 4,682.80 per troy ounce.
Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, explained that the price correction is part of a broader market shift. “During the data collection process, gold prices corrected by 1.43 percent. Beyond the growing preference for yield-based instruments, the gold market is currently entering a consolidation phase, which has prompted widespread profit-taking actions among investors,” Tommy stated, as reported by Antara.
Tommy further noted that international gold price movements are also being shaped by the trajectory of global monetary policies and the outlook for the world economy.
These adjustments are formalized under the Minister of Trade Decree Number 1416 of 2026 regarding the Export Benchmark Price and Reference Price for Mining Products Subject to Export Duties, which remains in effect for the period of June 1–14, 2026.
The determination of these prices relies on technical input from the Ministry of Energy and Mineral Resources (ESDM), which tracks international market trends. Specifically, gold pricing references are drawn from the London Bullion Market Association (LBMA).
The policy-making process involves a comprehensive cross-ministerial coordination mechanism. Data, market intelligence, and economic developments are analyzed in collaboration with the Coordinating Ministry for Economic Affairs, the Ministry of ESDM, the Ministry of Finance, and the Ministry of Industry to ensure the accuracy and relevance of the established benchmarks.
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Summary
The Indonesian Ministry of Trade has announced a reduction in the export benchmark price (HPE) and reference price for gold for the first half of June 2026. Gold’s HPE decreased by 1.43 percent to US$ 148,396.49 per kilogram, while the reference price dropped to US$ 4,615.65 per troy ounce. These figures, formalized under Minister of Trade Decree Number 1416 of 2026, are based on data from the London Bullion Market Association.
Director General of Foreign Trade, Tommy Andana, attributed the decline to a market shift toward yield-based financial instruments and widespread investor profit-taking. This adjustment reflects a broader consolidation phase in the gold market influenced by global economic conditions and international monetary policies. The price setting is the result of collaborative analysis between the Ministry of Trade and other relevant government agencies.