JAKARTA – The price of gold in the market reached a new record high of USD 2,990.23 per ounce, according to data from the Intercontinental Exchange (ICE), as of 22:45 EDT, Thursday (13/3).

Investment Analyst from Stockbit Sekuritas Digital, Hendriko Gani, believes the rise in gold prices is driven by uncertainty over tariff policies from U.S. President Donald Trump.

“There is also growing anticipation of monetary easing in the U.S., amid fears of a recession caused by the trade war,” Hendriko said in his latest market update.

Since the beginning of this year, gold prices have risen more than 13%, far surpassing the average gains of ASEAN stock market indices over the same period.

Hendriko sees the rise in gold prices as a positive catalyst for gold-producing companies, such as PT Bumi Resources Minerals Tbk (BRMS), PT J Resources Asia Pasifik Tbk (PSAB), PT Merdeka Copper Gold Tbk (MDKA), PT Aneka Tambang Tbk (ANTM), and PT Archi Indonesia Tbk (ARCI).

“This could potentially boost their average selling price (ASP) and profit margins,” Hendriko noted.

According to IDNFinancials.com, BRMS shares rose 1.05% as of 9.47 AM WIB today. Meanwhile, PSAB shares gained 2.54%, MDKA 1.12%, ANTM 2.61%, and ARCI 6.35%. (KR/ZH)