The Indonesian Ministry of Trade has officially announced the Export Benchmark Price (HPE) and Reference Price (HR) for gold commodities for the first period of June 2026. Data indicates a downward trend, with the gold HPE declining 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.
Mirroring this trend, the gold reference price has also dipped to US$ 4,615.65 per troy ounce (t oz), compared to the previous US$ 4,682.80 per t oz. These figures are formalized under Minister of Trade Decree Number 1416 of 2026 regarding the Export Benchmark Price and Reference Price for Mining Products Subject to Export Duties, effective from June 1 to June 14, 2026.
Tommy Andana, Director General of Foreign Trade at the Ministry of Trade, explained that the 1.43 percent correction in gold prices during the data collection period was largely driven by a shift in investor sentiment. Increased interest in yield-bearing financial instruments has drawn capital away from gold, which is traditionally viewed as a non-yielding asset.
“The gold market is currently undergoing a consolidation phase, which has triggered profit-taking activities. Furthermore, global monetary policy directions and the broader economic outlook continue to exert significant influence on international gold price fluctuations,” Tommy stated.
The determination of these prices is rooted in technical data and recommendations from the Ministry of Energy and Mineral Resources (ESDM), which tracks market developments on the international stage. Specifically, the gold pricing benchmarks are aligned with publications from the London Bullion Market Association (LBMA).
According to Tommy, the finalization of the HPE and HR is the result of a rigorous inter-ministerial coordination process. This collaborative approach involves analyzing current market trends and data alongside the Coordinating Ministry for Economic Affairs, the Ministry of Energy and Mineral Resources, the Ministry of Finance, and the Ministry of Industry to ensure a balanced and well-informed policy.
Summary
The Indonesian Ministry of Trade has announced a 1.43 percent decrease in the Export Benchmark Price (HPE) for gold, setting it at US$ 148,396.49 per kilogram for early June 2026. This adjustment, formalized under Minister of Trade Decree Number 1416 of 2026, also includes a decline in the gold reference price to US$ 4,615.65 per troy ounce. These rates will remain in effect from June 1 to June 14, 2026.
According to the Ministry, the price dip reflects a shift in investor sentiment toward higher-yield assets, prompting a market consolidation phase. The official figures are determined through inter-ministerial coordination and are aligned with international pricing data from the London Bullion Market Association (LBMA). These benchmarks are calculated based on rigorous analysis of global market trends and technical recommendations from the Ministry of Energy and Mineral Resources.
