How To Buy Gold In Indonesia: A Complete Guide For Investors

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How to buy gold in Indonesia:

Buying from gold shops.
Buying from banks.
Buying from online brokers.

Gold has been a trusted way to preserve wealth for centuries, especially in times of economic uncertainty. In Indonesia, many people invest in gold — not just for its value but also for its reliability. Whether you're looking to buy physical gold, explore digital options, or invest in gold biscuits, knowing how the process works can help you make smart decisions. This guide walks you through the best ways to buy gold in Indonesia, key legal aspects to keep in mind, and insights from experts.

How to buy gold in Indonesia

Here are the ways to buy gold in Indonesia:

Buying from gold shops

Indonesia is home to a thriving gold market, with a mix of traditional gold shops, government-backed dealers, and private sellers. Whether you're purchasing for investment, jewelry, or cultural reasons, understanding the nuances of buying gold here is crucial. Prices fluctuate daily, often influenced by global gold rates and local demand. While major cities like Jakarta and Surabaya have established gold markets, rural areas may offer unique opportunities for negotiation and rare designs.

Unlike in many Western countries, gold in Indonesia is often sold with a higher emphasis on craftsmanship rather than just weight. Traditional jewelry stores usually sell 22-karat or 24-karat gold, and many shops allow bargaining. Understanding the pricing structure, including weight (measured in grams) and making charges, is key. While government-certified shops like "Antam" ensure purity, smaller retailers may require extra scrutiny.

High resale value. Indonesian gold, especially from Antam, holds strong market value and is easily liquidated both locally and internationally.
Diverse buying options. From traditional markets to modern boutiques, you can find everything from raw gold bars to intricate handmade jewelry.

Purity verification issues. Many small shops lack proper certification, making it crucial to verify gold authenticity yourself.
Price fluctuations. Local gold rates often shift daily, sometimes unpredictably, making it hard to time a purchase for the best deal.

Process

Buy during early hours. Gold shops in Indonesia often adjust prices based on global rates before noon. Buying early increases your chances of locking in a better price.
Ask for “kadar emas” instead of just karats. Karats indicate purity but asking for the specific gold percentage (e.g., 91.6% for 22K) avoids confusion, as some shops mix alloys differently.
Negotiate making fees, not the gold price. Most shops have fixed gold rates, but the "ongkos" (crafting cost) is negotiable. Focus on reducing this instead of the base gold price.
Weigh the gold on a certified scale. Some sellers use outdated or tampered scales. Request a verification weigh-in using a digital scale for accuracy.

Buying from banks

Gold is a popular investment in Indonesia, often seen as a hedge against inflation and currency fluctuations. Many investors turn to banks for security and authenticity when purchasing gold. Banks in Indonesia, such as Bank Mandiri, BCA, and BNI, offer gold in various forms, including physical bars and digital gold accounts. The main advantage of buying from banks is the assurance of quality and legal compliance, but this also comes with certain costs, such as premiums and storage fees.

Unlike jewelry shops or independent dealers, banks offer gold at regulated prices, making them a reliable but slightly costlier option. Some banks even provide installment plans and buyback programs, making gold ownership more accessible. However, navigating the process can be tricky, as banks have strict policies on gold transactions, including KYC (Know Your Customer) checks and tax implications.

Guaranteed authenticity and purity. Banks provide certified gold, ensuring no risk of counterfeit or impure gold, which is common in street markets and unregulated sellers.
Secure storage and resale options. Some banks offer storage services for large gold investments and even provide official resale options, eliminating the need for third-party buyers.

Higher premiums than market prices. Banks charge additional fees for processing, storage, and certification, making gold slightly more expensive than open-market rates.
Limited flexibility in selling. Unlike gold shops, where you can negotiate and sell anytime, banks have structured buyback programs with set rules and timelines.

Process

Find a bank that fits your needs. Not all banks offer gold purchases, and those that do may have different minimum purchase amounts, installment plans, or storage options. Compare them before deciding.
Understand the tax and documentation. Gold purchases above a certain limit require tax payments, and banks will ask for ID verification. Make sure you factor in these costs before buying.
Check the resale terms. Some banks offer buyback guarantees at market rates, while others might have fixed buyback prices, which could be lower than market value. Always ask about the resale policy.
Consider digital gold for flexibility. Some banks allow gold investments in digital form, where you can buy, sell, or withdraw physical gold later. This is useful if you want liquidity without handling physical storage.

Buying from online brokers

Investing in gold through brokers is a common approach for those looking for convenience and professional assistance. However, it comes with both advantages and potential drawbacks.

Convenience – Brokers offer easy access to a variety of gold products.
Expert Guidance – Professional advice helps in making informed decisions.
Liquidity – Brokers provide easier resale options within their networks.
Security – Established brokers ensure authenticity and secure transactions.

Higher Costs – Additional fees and premiums can make gold more expensive.
Trust Issues – Working with unregulated brokers carries risks.
Limited Control – Prices and conditions may not always be favorable.
Storage & Delivery Risks – Extra costs may apply for secure storage or insured shipping.

Before purchasing gold through a broker, it's essential to research their reputation, fees, and services to make a well-informed decision.

Process

Research – Choose a reputable broker with transparent pricing and policies.

Best brokers to buy gold in Indonesia
	Min. deposit, $	Max. leverage	XAU/USD spread, pips	Max. Regulation Level	TU overall score	Open an account
Plus500	100	1:300	45	Tier-1	6.83	Open an account Your capital is at risk.
Pepperstone		1:500	22	Tier-1	7.17	Open an account Your capital is at risk.
OANDA		1:200	30	Tier-1	6.8	Open an account Your capital is at risk.
FOREX.com	100	1:50	35	Tier-1	6.95	Study review
Interactive Brokers		1:30	15	Tier-1	6.9	Open an account Your capital is at risk.

Selection – Decide on the type of gold ( bars, CFD, ETFs, futures etc.).
Price comparison – Check market rates and broker fees.
Purchase – Complete the transaction through the broker’s platform.
Storage or delivery – Opt for secure storage or insured delivery.

Types of gold investments available

Physical gold

Physical gold refers to tangible gold assets like coins, bars, and jewelry, as opposed to paper gold investments like ETFs or mining stocks. It has been a symbol of wealth and stability for centuries, acting as a hedge against inflation, economic downturns, and currency fluctuations. Unlike digital assets, physical gold holds intrinsic value and is not reliant on third-party institutions. However, its storage, liquidity, and authenticity pose unique challenges that require careful attention. Many investors underestimate the nuances of purchasing, storing, and reselling gold, making it crucial to understand the fine details before investing.

Untraceable wealth storage. Unlike bank accounts or digital investments, gold in its physical form offers complete privacy. In many cases, it does not require reporting to financial institutions, allowing discreet asset accumulation.
No counterparty risk. Physical gold is not dependent on a bank, company, or digital system, meaning its value does not vanish due to a bankruptcy, hacking, or financial collapse.

Difficult to verify authenticity. Many gold buyers mistakenly trust certificates or branding, but counterfeit bars and coins exist even with official-looking stamps. Testing through weight, density, and specialized tools is necessary.
High storage vulnerability. Unlike digital investments, gold requires secure storage, which can become a liability if not properly planned. Safe deposit boxes, private vaults, and discreet hiding spots all come with risks and costs.

Digital gold

Digital gold is a modern way to invest in gold without physically owning it. It allows you to buy, sell, and store gold online through platforms that back your investment with real gold held securely in vaults. Unlike traditional gold, digital gold can be purchased in small fractions, making it accessible to all investors. The flexibility to convert it into physical gold, sell it at market prices, or even use it as collateral adds to its appeal. It eliminates concerns about storage, security, and purity, making it a practical choice for those who want exposure to gold without the hassle of handling it physically.

Leverage it for instant liquidity. Many digital gold platforms allow you to pledge your holdings for an instant loan instead of selling your investment, letting you access cash without losing your gold position.
Smart cost averaging through automation. Set up an automated system that buys digital gold at regular intervals. This removes emotional decision-making and ensures you benefit from price fluctuations over time.

Hidden storage costs over long periods. While digital gold is convenient, platforms charge storage fees that accumulate over time, reducing your overall returns if you hold for years without converting or selling.
Not always regulated like physical gold. Digital gold operates through fintech platforms that may not be under strict government regulation, making it crucial to choose a trusted provider to avoid potential risks.

Gold ETFs

Gold ETFs (Exchange-Traded Funds) offer investors exposure to gold without the hassle of physical storage. These funds track gold prices and trade on stock exchanges, making them an accessible and liquid alternative to physical gold or futures contracts. Unlike traditional investments, Gold ETFs allow fractional ownership, meaning investors can start small while still benefiting from gold’s price movements. They often come with lower costs compared to physical gold, as there are no making charges, purity concerns, or storage issues. Moreover, some Gold ETFs are backed by actual physical gold stored in secure vaults, adding an extra layer of credibility. However, factors like expense ratios, tracking errors, and taxation can impact returns, making it crucial to select the right ETF.

Tax efficiency compared to physical gold. In many countries, Gold ETFs enjoy favorable tax treatment over physical gold, especially when held for the long term. This advantage can significantly impact overall returns, making them an attractive option for wealth preservation.
Better liquidity and execution flexibility. Unlike physical gold, Gold ETFs can be bought or sold at market prices instantly during trading hours. This makes them a superior choice for tactical investors who want exposure to gold without the logistical challenges of physical assets.

Storage costs are built into the ETF price. Even though you don’t need to worry about securing physical gold, fund managers charge a small fee for vault storage and insurance. Over time, these costs slightly erode the net asset value (NAV), affecting long-term gains.
Tracking error can impact returns. Some Gold ETFs do not perfectly mirror gold price movements due to management expenses, market fluctuations, and slight inefficiencies in execution. This discrepancy can cause minor variations in returns compared to holding physical gold.

Legal and tax considerations

In Indonesia, gold purchases are regulated by Bank Indonesia and the Financial Services Authority (OJK) to ensure fair and transparent transactions. To stay on the right side of the law and avoid scams, it’s best to buy from licensed dealers or reputable financial institutions.

If you're investing in gold, be aware that taxes may apply to any profits you make, depending on how much gold you own and how long you hold onto it. Keeping records — like purchase receipts and certification — can help you stay compliant with tax regulations and avoid any unexpected issues.

For the latest updates on regulations, consider speaking with a financial expert or checking official guidelines from Bank Indonesia and OJK. Understanding the legal and tax aspects of gold investment helps you make informed decisions and manage your assets more effectively.

Tips for safely buying gold

Buying gold is an investment that requires more than just checking the price — here are some specialized insights to help you make smart choices.

Tips for buying gold

Check the refiner’s reputation. Big-name mints aren’t the only option; independent refiners can offer better deals, but research their track record and look for LBMA (London Bullion Market Association) accreditation.
Use a scale and a magnet. Counterfeit gold can be incredibly realistic. A small pocket scale ensures the weight matches the advertised purity, and real gold won’t stick to a strong magnet.
Beware of “too perfect” gold bars. High-quality real gold bars often have minor imperfections. If a bar looks flawless, it could be tungsten-filled or a plated counterfeit.
Ask for serial numbers. Reputable dealers track gold bars and coins with serial numbers. If your seller refuses to provide this, it’s a red flag.
Test with a sound check. Gold makes a distinct, soft ringing sound when tapped, unlike fake metals that produce a dull noise. Try the "ping test" with a small metal rod.
Verify buyback policies. Some sellers offer gold at a premium but won’t buy it back at fair value. Always ask how they handle repurchasing and compare their rates.

Is investing in gold worth it?

Investing in gold in Indonesia can be a smart way to protect wealth and diversify your assets. Gold holds its value even when the economy is shaky, making it a reliable option. However, before diving in, it's important to keep an eye on price fluctuations and think about how you'll store it.

Gold has always been a go-to choice during financial uncertainty, and in Indonesia, it remains a favorite for both short-term traders and long-term investors. Whether you buy physical gold or invest through digital platforms, it provides a sense of security and easy access when needed.

That said, gold doesn’t earn interest or dividends like stocks or bonds. To build a well-rounded portfolio, it's a good idea to mix in other assets. Staying informed about market trends and buying from trusted sellers can help you get the most out of your investment while avoiding unnecessary risks.

Buying gold in Indonesia through pawnshops and sharia savings for better deals

If you're buying gold in Indonesia, skip the big-name jewelers and look into Pegadaian pawnshops or rural gold markets. These places often sell gold at lower prices because they don’t mark up for branding or expensive showrooms. In areas like Sumatra and Kalimantan, small gold traders sometimes source directly from mines, meaning you can get a better deal than in Jakarta’s high-end stores. The key is to negotiate — many sellers expect some bargaining, and you might be surprised how much you can save just by asking.

Another little-known way to invest in gold is through sharia-compliant gold savings plans offered by Islamic banks. Instead of buying a lump sum, you can accumulate gold bit by bit, making it easier on your wallet. These plans often come with built-in storage, so you don’t have to worry about keeping gold safe at home. Plus, when you’re ready, you can swap your digital gold savings for physical gold bars. It’s a smart way to grow your gold holdings without the usual risks of theft or loss.

Conclusion

Buying gold in Indonesia can be a rewarding investment when done through trusted channels. Whether opting for physical, digital, or gold ETFs, careful research and legal compliance are essential. Secure transactions and proper storage will safeguard your investment.

FAQs

Can foreigners buy gold in Indonesia?

Yes, foreigners can invest in gold, but they should comply with local regulations and taxation policies.

What is the minimum investment for digital gold?

Some platforms allow investments starting from IDR 10,000, making digital gold accessible to all investors.

Is gold taxed in Indonesia?

Yes, there are taxes on gold sales and capital gains, depending on the investment type and amount.

How can I verify gold authenticity?

Check for official certification, hallmark stamps, and assay cards from reputable institutions.

Team that worked on the article

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses that want to improve their Google search rankings to compete with their competition. With expertise in search engine optimization (SEO) and content marketing, he ensures his work is both informative and impactful.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

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Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).