Gold ETF Opportunity

 

Gold ETF Could Become a New Investment Choice as Regulations Are Prepared

Bahana TCW Investment Management believes the investment world is currently undergoing an interesting shift in paradigm. In the past, owning gold was closely associated with storing physical gold bars in safes or hiding jewelry at home. However, the digital era has transformed how investors access gold, making it far more efficient and accessible.

Amid ongoing global market dynamics, Gold Exchange Traded Funds (Gold ETFs) are emerging as a smart and essential instrument for modern investment portfolios.

Gold Price Rally Strengthens Investor Interest

Since 2025, the public has witnessed a significant surge in global gold prices. According to Bloomberg data, gold prices surged by 64.52% throughout 2025, highlighting the metal’s strong appeal as a safe-haven asset.

Danica Adhitama, Marketing Director of Bahana TCW Investment Management, explained that the rise in gold prices has been largely driven by prolonged geopolitical uncertainty and the growing strategy of central banks worldwide to strengthen their foreign exchange reserves with precious metals.

Global central banks reportedly added 254 tons of gold to their reserves during 2025, marking the fourth-largest annual increase this century.

Gold Investment Trend Strengthens in Indonesia

In Indonesia, this global trend has been amplified significantly. More investors are realizing that gold is not merely jewelry but also a resilient investment instrument capable of withstanding economic volatility.

However, as physical gold prices continue to climb, new challenges arise for investors—particularly in finding ways to invest in gold with lower costs, higher security, and greater flexibility.

According to Danica, this is where Gold ETFs can offer a compelling solution.

“With the rising price of physical gold, investors are looking for safer, more efficient alternatives. Gold ETFs could become one of the new investment models in Indonesia that address these needs,” Danica said in an official statement on Monday (March 9, 2026).

What Is a Gold ETF?

Simply put, a Gold ETF is a mutual fund structured as a collective investment contract whose units are traded on the Indonesia Stock Exchange (IDX). Each ETF unit represents ownership of physical gold that is securely stored by a professional gold custodian.

Why Gold ETFs Are Attracting Investors

There are several key reasons why Gold ETFs are gaining strong interest among investors.

1. High Liquidity

One of the biggest challenges of owning physical gold is the lengthy buying and selling process. Investors usually need to visit gold shops or bullion boutiques, verify gold purity, and negotiate buyback prices.

Gold ETFs eliminate these complications. Investors can buy or sell ETF units in real-time during stock exchange trading hours, allowing them to react quickly to market changes.

2. Cost Efficiency and Profit Potential

Many investors overlook the hidden costs of physical gold, such as wide buy-sell spreads, storage fees, and insurance costs.

Gold ETFs offer tighter spreads and greater cost efficiency. Gold price increases are directly reflected in the Net Asset Value (NAV) of the ETF transparently.

Investors also do not need to worry about safe deposit box costs or the risk of theft, since the physical gold backing the ETF is professionally stored and regulated by Indonesia’s Financial Services Authority (OJK), which is currently preparing ETF regulations expected in the first half of 2026.

3. Transparency

Trust is a critical element in any investment. Gold ETFs provide a level of transparency rarely found in traditional physical gold markets.

ETF prices move closely with international gold prices, and the physical gold underlying the ETF is regularly audited, ensuring that each ETF unit held by investors is fully backed by real gold.

Bright Outlook for Gold ETFs and Digital Gold

Looking ahead, the prospects for Gold ETFs and digital gold investments remain highly promising. Financial technology integration now allows investors to access the gold market directly from their smartphones.

Danica emphasized that the Indonesian government and regulators continue to support the development of capital markets through innovative instruments like Gold ETFs. For retail investors, this presents an opportunity to diversify their portfolios with affordable investment amounts.

“Investors no longer need tens of millions of rupiah to buy a 10-gram gold bar. With ETFs, investments can start from smaller units that represent a fraction of gold while offering similar growth potential,” she explained.

Bahana TCW Preparing Gold ETF Product

Responding to the growing demand for this investment product, Bahana TCW Investment Management has partnered with several strategic institutions to develop a Gold ETF product for Indonesian investors.

The product is planned to be launched in Indonesian Rupiah (IDR) denomination and will also comply with Sharia investment principles, making it accessible to a wider range of investors in Indonesia.

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Gold Price Drops

Gold Prices Slip on Stronger US Dollar Friday Morning

Gold prices edged lower in Friday morning trading (March 6, 2026), pressured by a stronger US dollar and shifting expectations for US monetary policy. At 07:43 WIB, spot gold was trading at US$5,079.54 per troy ounce, down 2.76% from the previous session’s level of US$5,082.30 per troy ounce.

The decline in gold prices comes as the US dollar strengthens and expectations grow that the United States may reduce the pace of monetary easing, while geopolitical tensions in the Middle East remain unresolved.

According to Bloomberg, gold weakened as concerns over inflation—driven by rising energy prices—boosted the US dollar and government bond yields. Higher inflation could push the Federal Reserve to maintain its current interest rates or even raise them further to contain price pressures.

“Part of gold’s weakness appears to be driven by a risk-on move triggered by the stock market, particularly during the US trading session, where investors used gold as a source of liquidity rather than questioning its fundamentals,” said Ewa Manthey, commodity strategist at ING Bank.

She added that the pressure on gold prices may ease once the momentum in equity markets fades, suggesting that underlying support for the precious metal remains intact.

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EMAS Profit Potential

EMAS Stock Correction Opens Opportunity as Company Eyes Profit Turnaround in 2026

Investment opportunities in gold mining stocks are emerging again after shares of PT Merdeka Gold Resources Tbk (EMAS) experienced a sharp correction amid a broad decline in the Indonesian stock market on Wednesday (March 4, 2026).

Despite the short-term pressure, analysts believe the gold mining company still holds strong long-term prospects as it has officially entered the commercial gold production phase.

On Wednesday’s trading session, EMAS shares closed at IDR 8,100, falling 350 points or 4.14% in a single day. During intraday trading, the stock even slipped below the IDR 8,000 level.

The decline in EMAS shares came alongside a broader market downturn. The Jakarta Composite Index (JCI) also dropped sharply, closing at 7,577.06, down 362.70 points or 4.57% on the same day.

Analysts See EMAS Correction as Accumulation Opportunity

Several market analysts view the recent correction in EMAS shares as a potential buying opportunity for investors looking to accumulate the stock at lower levels.

The optimism is supported by the start of production and commercialization at the Pani Gold Mine, which is expected to become the company’s key growth driver.

After completing its first gold pour on February 14, 2026, EMAS also conducted its first shipment of 44.04 kilograms of dore gold for refining at the facility of PT Aneka Tambang Tbk (ANTM).

EMAS President Director Boyke Poerbaya Abidin stated that the refining process is a crucial step before the company enters its full commercial phase.

According to him, the process ensures the quality of gold produced from the Pani Gold Mine before it is marketed.

The dore shipment also highlights the operational readiness of one of EMAS’ most strategic gold projects.

Company Accelerates Processing Facility Development

As a subsidiary of PT Merdeka Copper Gold Tbk (MDKA), EMAS is currently focused on ensuring disciplined production in line with its targets this year.

The company is also accelerating the construction of its Carbon-in-Leach (CIL) processing facility, which is expected to significantly increase production capacity.

“Additionally, the company is accelerating the development of the Carbon-in-Leach (CIL) facility to achieve higher and more optimal production,” Boyke said in an official statement.

Pani Gold Mine Production Target

EMAS has set a production target of 110,000 to 115,000 ounces of gold in 2026 from the Pani Gold Mine.

As part of its medium-term strategy, the company is accelerating the development of the CIL facility to complement the existing heap leach processing method.

The integration of both processing methods is projected to boost gold production to approximately 500,000 ounces per year at optimal long-term capacity.

The Pani Gold Mine itself holds more than 7 million ounces of gold resources, with a competitive production cost profile.

Analysts Expect EMAS to Return to Profit in 2026

Head of Research at Korea Investment & Sekuritas Indonesia (KISI), Muhammad Wafi, said the company’s first gold shipment marks an important transition toward full commercial production.

If production and sales proceed smoothly, EMAS could turn losses into profits in 2026.

Wafi also expects EMAS to deliver a growing contribution to its parent company, MDKA.

“The Pani Mine is projected to become one of the largest primary gold assets in the Asia-Pacific region,” Wafi said.

He added that the company’s main strategy is to accelerate the integration of gold processing facilities, particularly the CIL facility, which is targeted to begin operations in 2028.

Key Risks Investors Should Watch

Despite its promising outlook, several risks could still impact EMAS’ performance this year.

These include global gold price volatility, potential lower-than-expected recovery rates, and possible operational disruptions caused by extreme weather conditions.

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Gold Holds Gains

 

Gold Holds Above $5,150 in Daily Trading; Upside May Be Limited Amid Bullish USD

Gold prices maintained moderate intraday gains during Wednesday’s Asian session, hovering slightly above the $5,150 level and rising around 1.30% on the day. Investors remain concerned about the prolonged Middle East conflict and its broader impact on the global economy, particularly amid an already fragile macroeconomic backdrop.

📊 Technical Analysis: Short-Term Bias Remains Bullish

From a technical perspective, the short-term outlook for gold remains slightly bullish. Prices continue to hold above the 21-day and 50-day Simple Moving Averages (SMA), which are trending higher and positioned above the longer-term 100-day and 200-day SMAs, reinforcing the prevailing uptrend.

The Relative Strength Index (RSI) is currently near 55, staying above the neutral midpoint. This signals positive momentum without entering overbought territory after cooling from previous extremes.

Gold has also reclaimed the 61.8% Fibonacci retracement level at $5,141.05, measured from the swing low of $4,401.99 to the record high of $5,597.89. This recovery suggests buyers are defending the current pullback zone within the broader bullish structure.

🔎 Key Support and Resistance Levels

• Immediate Support: $5,141.05 (61.8% Fibonacci retracement)

• Secondary Support: $5,067 (21-day SMA) and $4,999.94 (50% Fibonacci level)

• Deeper Support: $4,858.82 (38.2% Fibonacci retracement + rising 50-day SMA)

On the upside:

• Near-Term Resistance: $5,260 (recent swing high)

• Next Resistance: $5,340 area (near 78.6% Fibonacci at $5,341.96)

• Major Target: $5,600 (record high zone)

A daily close above $5,340 could pave the way for a renewed push toward the $5,600 all-time high, sustaining the dominant bullish trajectory.

🌍 Geopolitical Tensions Support Safe-Haven Demand

Gold continues to attract dip buyers, holding near a 1.50% gain so far this week. The overall bullish trend in the traditional safe-haven asset remains intact as global uncertainty intensifies.

Ongoing military tensions involving the United States, Israel, and Iran have fueled risk aversion across financial markets. According to reports from Reuters, Iranian drones and missiles have targeted oil refineries in the Gulf region, as well as US embassies in Saudi Arabia and Kuwait.

Additionally, concerns about potential disruptions in the Strait of Hormuz have heightened fears of an energy shock, contributing to inflation risks and complicating monetary policy expectations.

💵 USD Strength and Fed Expectations Limit Upside

Despite safe-haven demand, gold’s upside appears somewhat capped by renewed strength in the US Dollar (USD). Markets are reassessing expectations for rate cuts by the Federal Reserve, as rising oil prices could fuel inflation and delay monetary easing.

Earlier this week, gold briefly entered a “sell-everything” mode as investors liquidated positions to cover losses in global equities. However, a pause in the USD rally and consolidation in oil prices have supported the recent rebound in bullion.

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📅 Key US Data to Watch

Gold’s next directional move may depend on upcoming US economic data, particularly:

• ADP Employment Change

• ISM Services PMI

Disappointing results could revive dovish expectations for the Federal Reserve and trigger a correction in the USD, potentially extending gold’s recovery.

On the other hand, further escalation in the Iran conflict could reignite global risk aversion, strengthening gold’s safe-haven appeal and supporting a move toward fresh record highs.

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Gold Rises Again

 

Gold Prices Rise Amid Prolonged Middle East Conflict Fears

Gold prices strengthened on Monday (March 2, 2026) as escalating tensions in the Middle East fueled safe-haven demand following military strikes by the United States and Israel against Iran.

According to a report from Reuters, spot gold climbed 0.4% to US$5,297.31 per ounce at 6:31 p.m. local time. The precious metal had earlier surged more than 2% in a single session before trimming gains due to profit-taking. Gold remains near its all-time high of US$5,594.82, recorded on January 29.

Meanwhile, U.S. gold futures settled 1.2% higher at US$5,311.60 per ounce. The U.S. dollar index rose around 1%, making dollar-denominated gold more expensive for holders of other currencies.

Geopolitical Uncertainty Supports Gold Rally

Market uncertainty continues to dominate sentiment as investors assess the potential for a prolonged regional conflict. David Meger, Director of Metals Trading at High Ridge Futures, stated that the lack of clarity surrounding future military developments could continue to underpin gold prices in the coming weeks.

Tensions intensified after the U.S.-Israel air campaign against Iran expanded. Reports indicate that Israel launched strikes on Lebanon in response to Hezbollah attacks, while Tehran continued missile and drone operations targeting Gulf nations. Former U.S. President Donald Trump warned of additional large-scale strikes, although he did not provide details on timing or targets.

The conflict has also disrupted energy markets. Oil and gas prices surged after several production facilities in the Middle East were shut down and shipping routes through the strategic Strait of Hormuz faced disruptions.

Central Banks and Investment Demand Drive Bullion Higher

Analysts at SP Angel noted that increasing geopolitical fragmentation has prompted BRIC central banks to reduce exposure to U.S. dollar-based assets and increase gold holdings. This trend is expected to persist throughout the year.

Similarly, BNP Paribas projects that physical gold investment demand will remain a key driver of the global gold market in 2026.

Year-to-date, gold prices have surged nearly 23%, extending last year’s impressive 64% rally in 2025. The strong performance has been fueled by aggressive central bank buying, substantial inflows into exchange-traded funds (ETFs), and expectations of a more accommodative U.S. monetary policy stance.

Limited Physical Supply and Key U.S. Economic Data in Focus

On the physical supply side, gold flows in and out of Dubai’s bullion trading hub are expected to remain limited in the coming days. Flight cancellations caused by labor strikes have disrupted logistics, according to industry sources.

Investors are also closely watching key U.S. economic data releases this week, including the ADP employment report, weekly jobless claims, and non-farm payrolls data, which could influence Federal Reserve policy expectations and gold price direction.

Other Precious Metals Weaken

While gold advanced, other precious metals posted losses:

• Spot silver fell sharply by 5.7% to US$88.46 per ounce, retreating from its highest level since January 30.

• Spot platinum declined 2.7% to US$2,300.50 per ounce.

• Palladium slipped 0.9% to US$1,770.66 per ounce.

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Gold War Surge

  

Gold Price Surges 2% as US-Israel Conflict with Iran Escalates

Gold prices jumped more than 2% in Asian trading on Monday as investors rushed into safe-haven assets following a major military escalation involving the United States and Israel against Iran.

Spot gold climbed 2.1% to $5,387.55 per ounce as of 06:56 WIB, marking its highest level since late January. Meanwhile, U.S. gold futures advanced 2.8% to $5,394.91 per ounce, reflecting strong bullish momentum in the precious metals market.

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Middle East Tensions Drive Safe-Haven Demand

Financial markets reacted sharply to the unprecedented escalation in the Middle East. Reports of a large-scale strike targeting Iran, including the death of Supreme Leader Ayatollah Ali Khamenei, intensified fears of a broader regional conflict.

Investors are increasingly concerned about potential disruptions to global oil shipments through the Strait of Hormuz — a critical energy corridor. The rising geopolitical risk has triggered a classic risk-off move across global markets.

Israeli forces reportedly launched additional waves of strikes in Tehran on Sunday, targeting command centers and air defense infrastructure. Iran responded with missile attacks directed toward Israeli territory and U.S. military bases in the Gulf region.

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Gold Strengthens as Equities Fall, Oil Prices Spike

The geopolitical shock sent global equities lower while crude oil prices surged, reinforcing gold’s appeal as a store of value during times of uncertainty.

Michael Brown, Senior Research Strategist at Pepperstone, highlighted key resistance levels to watch:

“Trying to gauge the extent of the move is clearly challenging, though I would flag $5,400/oz followed by the late-January record high of $5,595/oz as key upside levels.”

He added that recent developments strengthen the fundamental bullish case for gold, noting that safe-haven inflows, strong retail demand, and central bank buying continue to provide tailwinds.

Brown also sees potential for gold to test the $6,000 per ounce level by year-end if geopolitical and macroeconomic conditions remain supportive.

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Gold Up Nearly 25% Year-to-Date

Gold has rallied nearly 25% so far this year, supported by:

• Rising geopolitical risks

• Ongoing central bank purchases

• Expectations of Federal Reserve rate cuts

Among other precious metals, silver rose 1.3% to $95.15 per ounce, while platinum gained 0.3% to $2,396.11 per ounce.

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