The Indonesian Ministry of Trade has announced a downward adjustment in the Export Benchmark Price (HPE) and the reference price for gold for the first period of June 2026. This shift is primarily attributed to a growing investor appetite for yield-based financial instruments.
According to an official statement released in Jakarta on Monday, June 1, 2026, the gold HPE saw a 1.43 percent decline, falling to US$ 148,396.49 per kilogram from the previous period’s US$ 150,555.29 per kilogram. Simultaneously, the reference price for gold decreased to US$ 4,615.65 per troy ounce, down from US$ 4,682.80 per troy ounce in the second half of May 2026.
Tommy Andana, Director General of Foreign Trade at the Ministry of Trade, explained that the price correction occurred during the data collection process. “Beyond the shift in investor preferences toward yield-driven assets, the gold market is currently undergoing a consolidation phase, which has triggered widespread profit-taking among investors,” Andana stated, as reported by Antara.
Andana further noted that international gold price movements continue to be heavily influenced by broader global monetary policy shifts and the evolving outlook of the world economy.
These new regulations regarding the HPE and reference prices were formally established under the Ministry of Trade Decree Number 1416 of 2026. This decree governs the Export Benchmark Price and reference prices for mining products subject to export duties, effective from June 1 to June 14, 2026.
The determination of these figures is based on technical data and input provided by the Ministry of Energy and Mineral Resources (ESDM), reflecting real-time developments in the international market. Furthermore, the official gold pricing benchmarks are derived from data published by the London Bullion Market Association (LBMA).
To ensure accuracy, the establishment of the gold HPE and reference price involves a rigorous inter-ministerial coordination mechanism. This process incorporates data, market intelligence, and current trends analyzed in collaboration with the Coordinating Ministry for Economic Affairs, the Ministry of ESDM, the Ministry of Finance, and the Ministry of Industry.
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Summary
The Indonesian Ministry of Trade has officially reduced the Export Benchmark Price (HPE) and the 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 fell to US$ 4,615.65 per troy ounce. These adjustments reflect current market trends and are mandated under Ministry of Trade Decree Number 1416 of 2026.
According to the Ministry, the price decline is driven by a shift in investor preference toward yield-based financial instruments and widespread profit-taking during a market consolidation phase. The official figures are determined through inter-ministerial coordination and rely on international data from the London Bullion Market Association (LBMA). These pricing benchmarks remain sensitive to global monetary policy shifts and broader economic conditions.