This guide explains the gold price in Indonesia: how it is calculated, why it is quoted in Indonesian rupiah (IDR), which karats Indonesians usually buy, and where to buy gold in Jakarta and Surabaya. First: there is no separate Indonesian gold price. Gold trades at one global price per troy ounce, converted into rupiah at the live exchange rate.
How the gold price in Indonesia is calculated
First, the global spot price: gold trades worldwide at one price per troy ounce in US dollars. One troy ounce is 31.1034768 grams — not an ordinary ounce, which is never used for gold. Divide the spot price by 31.1034768 and you have the price of one gram of pure (24K) gold in dollars.
Second, the exchange rate: that dollar price per gram is converted into rupiah at the live USD/IDR rate, giving the gold price per gram in Indonesia. The karat fraction gives lower karats: 22K gold is 22/24 pure, so its price per gram is that fraction of the 24K price. That is how the Gold Price in Indonesia page works — live spot price from AlyawmGold, converted at the live IDR rate, before dealer commission and making charges.
The rupiah and the gold price
Because the Indonesia price is a conversion, the exchange rate matters as much as the gold market. If the global gold price is flat but the rupiah weakens against the dollar, the gold price in Indonesia rises in rupiah. If the rupiah strengthens, the price in Indonesia falls even while the dollar price rises.
Gold in Indonesia is quoted per gram in IDR, while the international spot price is quoted per troy ounce (31.1034768 grams). The tola, at 11.6638 grams, is not used by Indonesian shops — it is common in South Asia and the Gulf — so use the Gold Price per Gram, Tola and Ounce Converter when comparing an Indonesian quote with one from India or the Gulf. Gold is sometimes described here as a hedge against the currency: when the rupiah falls, the gold price in rupiah rises.
Karats in Indonesia: 22K at the high end, 17K–18K for everyday pieces
There is no single karat for every purchase. For jewellery, Indonesians most commonly buy 22K gold (916, “emas 22 karat”) at the high end and 17K–18K gold for everyday pieces. The higher karat is richer in colour; the lower karats are harder, better for daily wear. For investment, 24K gold (99.99%, “emas 24 karat”) is mainly for bars, not jewellery.
The best-known investment bars are Antam Logam Mulia, made by state-owned miner PT Aneka Tambang Tbk. Its UBPP Logam Mulia refinery is on the LBMA Good Delivery List, its bars are 99.99% pure, and they are sold from 0.5 grams to 1,000 grams through Butik Emas LM. UBS Gold (PT Untung Bersama Sejahtera) makes jewellery typically in 17K gold. Hartadinata Abadi (HRTA), described as Indonesia’s leading gold jewellery company, sells bullion as EMASKU and jewellery as ARDORE.
For pricing, 24K is the reference: the Gold Price in Indonesia page quotes 24K, and any lower karat follows from its fraction. A 22K piece is worth the 24K price per gram multiplied by 22/24 — the Gold Value Calculator does that with the live price. By the Gold Weight and Purity Calculator, a 10-gram piece of 22K gold holds 9.1667 grams of pure gold, and 10 grams of 18K gold holds 7.5 grams.
Where to buy gold in Indonesia
Indonesia has no single national gold souq: the main buying places are concentrated gold centres in Jakarta, plus a large market mall in Surabaya.
Melawai Plaza — Blok M, Jakarta
Melawai Plaza, in Blok M, South Jakarta, is a vintage mall now known mainly for its many gold and jewellery dealers — rings, including wedding rings, necklaces, bracelets and diamond jewellery. Compare the total price of the same kind of piece in two or three shops. Address: Jl. Melawai Raya No. 13–18, Melawai, Kebayoran Baru, South Jakarta 12160. Hours approximately 09:00–21:00 daily, though individual shops may vary. View Melawai Plaza on Google Maps.
Cikini Gold Center — Jakarta
Cikini Gold Center, in Menteng, Central Jakarta, is a dedicated gold and jewellery centre trading since 1962, described as Southeast Asia’s largest trade centre for gold and jewelry. Dozens of shops trade inside, including Toko Mas Metro, Amala, Agung Jewelry, Kenanga and Raja Emas Indonesia, and wedding rings are a speciality; there is also a gemstone market. Address: Jl. Pegangsaan Timur No. 9, Pegangsaan, Menteng, Central Jakarta 10320, opposite Cikini station. Hours approximately 10:00–17:00 daily. View Cikini Gold Center on Google Maps.
Glodok Chinatown — Jl. Pancoran, Jakarta
Glodok, on Jl. Pancoran, is Jakarta’s Chinatown — a Chinatown stop with gold kiosks, not a dedicated gold market. The area is mainly known for electronics, Chinese medicine, food and temples, with small gold-jewellery kiosks among the shops — for example Pancoran Chinatown Point, Jl. Pancoran No. 42A, and the Chandra Building, Jl. Pancoran No. 33–35. Visit if you are already in Chinatown; do not expect a gold-only market like Cikini. Market hours 07:00–19:00 daily. View Glodok Chinatown on Google Maps.
Pasar Atom / Pasar Atom Mall — Surabaya
Pasar Atom, in central Surabaya, is a large long-standing market and mall with hundreds of fashion and gold boutiques. Named gold shops at the same address include Amala Gold Shop, GLORIA Gold Jewelry, Dynasty Jewelry, Diva Gold & Jewellery and Royal Jewellery. Address: Jl. Bunguran No. 45, Bongkaran, Pabean Cantikan, Surabaya, East Java 60161. Bargaining is expected. Hours about 10:00–17:00, with some sources saying until 18:00. View Pasar Atom on Google Maps.
Pasar Baru, Jakarta (established 1820, Jl. Pasar Baru, Sawah Besar, Central Jakarta 10710), is a historic shopping street with some gold and jewellery shops among many other traders.
What you will actually pay
The price on the Gold Price in Indonesia page is the raw spot rate. The price you pay in a shop is usually higher, because shops add making charges, labour and their margin — the part you can negotiate, since making charges vary from shop to shop. Before you buy, work out the metal value with the Gold Value Calculator and compare it with the shop’s total price. The difference is what you pay for craftsmanship and the shop itself. If two quotes use different units, use the Gold Price per Gram, Tola and Ounce Converter to put both on the same unit first.
On tax, ask the dealer what is included in the quoted price: investment-grade gold bars are VAT-exempt in Indonesia; gold jewellery is taxed at a reduced effective VAT rate (about 1.1–1.65% of the selling price) — ask the dealer what tax is included in the quoted price.
Buying tips for Indonesia
- Check the live price on the day you buy, and value the piece first with the Gold Value Calculator.
- Compare the total price across two or three shops — in Melawai Plaza, Cikini and Pasar Atom the shops are side by side.
- Check the hallmark and karat — 22K is usually stamped 22K or 916, 18K usually 18K or 750. If a piece is unmarked, have it tested first.
- Weigh the piece and check the pure-gold content with the Gold Weight and Purity Calculator.
- Match the place to the purchase: Cikini for the widest choice, Melawai for comparing dealers, Pasar Atom for Surabaya, Glodok only as a Chinatown browse.
- Bargain on the total price in markets, especially at Pasar Atom — and confirm what tax and making charges are included.
- Keep the receipt and certificate — you will need them to resell the piece.
For the live price, start at the ToolZana home page or the gold price in Indonesia — and compare making charges before you decide.
Frequently Asked Questions
What is the gold price in Indonesia today?
The live gold price in Indonesia is shown in IDR on the Gold Price in Indonesia page, per gram, per troy ounce and per kilogram.
How is the gold price in Indonesia calculated?
From one global spot price per troy ounce in US dollars, converted into rupiah at the live USD/IDR rate. Divide by 31.1034768 grams to get the price per gram in dollars, then convert at the live rate.
Why does the gold price in Indonesia change when the dollar moves?
Because the Indonesia price is the dollar spot price converted into rupiah. If the rupiah weakens, the gold price in Indonesia rises in rupiah even when the global price is flat — and if the rupiah strengthens, the price falls.
Which karat of gold do Indonesians most commonly buy?
There is no single most common karat for every purchase. For jewellery, Indonesians most commonly buy 22K gold (916, “emas 22 karat”) at the high end and 17K–18K gold for everyday pieces. For investment bars, 24K gold (99.99%) is the usual choice.
What is the 24K gold price per gram in Indonesia?
The live 24K gold price per gram in Indonesia is shown in IDR on the Gold Price in Indonesia page. It follows the live spot price and exchange rate, so check the last-updated time.
Is gold quoted per gram or per troy ounce in Indonesia?
Both. Retail jewellery is usually discussed per gram in IDR, while the international spot price is quoted per troy ounce (31.1034768 grams). The tola is not used in Indonesian shops.
What is the difference between the spot price and the shop price in Indonesia?
The spot price is the raw market rate. Shops add making charges, labour and their margin, so the shop price is usually higher. Work out the metal value with the Gold Value Calculator first.
How do I calculate the value of my gold in Indonesia?
Enter the weight and karat in the Gold Value Calculator. It multiplies the weight by the live 24K price per gram and by the karat fraction, giving the metal value before dealer charges.
Where is the best place to buy gold in Jakarta?
Cikini Gold Center in Menteng — a dedicated gold centre trading since 1962, with dozens of shops inside. Melawai Plaza in Blok M is the other main Jakarta choice. Glodok is a Chinatown stop with gold kiosks, not a dedicated gold market.
What should I check before paying for gold in Indonesia?
Check the hallmark and karat (22K or 916 at the high end, 18K or 750 for everyday pieces), weigh the piece, work out the pure-gold content, compare the total price across two or three shops, confirm what tax and making charges are included, and keep the receipt and certificate.