CNBC Indonesia ‘Squawk Box’ Live Broadcast with President Director of PT KBI : A Look at Digital Gold Transactions Amid

21 Apr 2025

When demand is increasing, gold supply is scarce and the price of gold bars has soared to Rp 2,000,000 / gram, PT Kliring Berjangka Indonesia (PT KBI) which is part of the Danareksa BUMN Holding always ensures the stability of Futures Trading. 

Global economic uncertainty caused by geopolitical tensions and trade wars has led to a shift in investment to gold which is said to be a safe haven asset. As a clearing house for Futures Trading, PT KBI recorded a surge in transaction volume, especially in Warehouse Receipt commodities, Gold. The following is the latest data monitored in the Indonesian market during the Q1 2025 period:

The overall London Loco Gold Transaction Volume on the Jakarta Futures Exchange (JFX) increased by 20.2% yoy totaling 1,491,864 lots (Q1 2025) compared to 1,240,323 lots (Q1 2024).

Currently, Indonesia is facing the unique challenge of a “Currency-Commodity Double Squeeze,” where rising Gold Prices are triggered by global safe-haven demand and a Strengthening USD against the Rupiah. This combination increases inflationary pressures and import costs in various industrial sectors. Responding to this situation, PT KBI has implemented a real-time monitoring system to ensure futures market operations using Intra-Day Margin, where margins are calculated based on the last price at JFX and clearing members are encouraged to top-up margins in the event of a shortage. 

Budi Susanto, President Director of PT KBI, emphasized: "In addition to ensuring the margin system is running, PT KBI also continues to conduct socialization related to alternative investments, namely digital physical gold trading. To reduce the risk of these transactions, we together with other Self-Regulated Organization (SRO) have ensured that each digital gold purchase is accompanied by physical gold stored in a depository. In this case, the physical gold has been tested for quality with standards following the provisions."

PT KBI continues to coordinate with relevant authorities, including the Commodity Futures Trading Supervisory Agency (BAPPEBTI), Bank Indonesia (BI), and the Financial Services Authority (OJK) to mitigate systemic risk in the Futures Market. This effort is in line with the BUMN mission to encourage inclusive and globally competitive economic growth in Indonesia.

Watch the re-broadcast in CNBC Indonesia, by clicking here.