The development of bullion banks in Indonesia, involving Pegadaian and Bank Syariah Indonesia, has begun to show a positive trend. In the initial phase of operations, gold transactions reached approximately IDR 2 trillion, equivalent to 1.2 tons of gold, while corporate gold deposits approached 3 tons.
An economist from the Faculty of Economics and Business at Universitas Gadjah Mada, Wisnu Setiadi Nugroho, Ph.D., views this development as an early signal of gold’s strengthening role in the national financial system.
“Globally, bullion banks have succeeded in deepening gold markets as well as providing liquidity and risk management within the financial system,” he stated in a written release on Wednesday (April 1, 2026).
He explained that global gold demand increased significantly between 2024 and 2025.