Gold Prices Plunge

Gold Prices Drop Over 2% Amid US–Iran Uncertainty and Strong Dollar Pressure

Global gold prices fell sharply by more than 2% on Tuesday (April 21, 2026), weighed down by a stronger US dollar and rising Treasury yields, as uncertainty surrounding US–Iran relations dampened market sentiment.

Spot gold declined 2.2% to $4,712.04 per ounce at 13:46 local time, marking its lowest level since April 13, 2026. Meanwhile, US gold futures for June delivery slipped 2.3% to $4,719.60 per ounce.

The decline in gold prices was largely driven by a 0.2% rise in the US dollar against major currencies, making gold more expensive for investors holding other currencies. At the same time, yields on 10-year US Treasury bonds increased, reducing gold’s appeal as a safe-haven asset.

According to RJO Futures analyst Bob Haberkorn, the combination of higher yields and a stronger dollar has been the key pressure on gold prices. In addition, ongoing developments related to Iran have further weakened market sentiment.

“Higher yields and the US dollar are weighing on gold, alongside mixed signals surrounding Iran that are also pushing energy prices higher,” he said.

On the geopolitical front, former US President Donald Trump had previously signaled a tougher stance by indicating reluctance to extend the ceasefire with Iran. He also emphasized that the US military was prepared to act if negotiations failed. These remarks initially pushed crude oil prices up by more than 3%. However, he later announced an indefinite extension of the ceasefire after markets closed.

Rising oil prices since the escalation of tensions involving the US and Israel against Iran on February 28 have fueled inflation concerns. This could limit the potential for interest rate cuts, creating additional downward pressure on gold, which does not offer yields.

Investor attention is also focused on the confirmation hearing of Federal Reserve Chair nominee Kevin Warsh before the US Senate Banking Committee. Warsh has advocated for major reforms at the central bank, including a new approach to inflation control and changes in monetary policy communication strategies.

Markets are expected to remain volatile as investors closely monitor the future direction of Federal Reserve policy.

The decline extended beyond gold. Spot silver dropped 3.9% to $76.76 per ounce, platinum fell 2.7% to $2,033.37, and palladium edged down 0.6% to $1,541.56 per ounce.

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Gold Price Divergence

 

Antam Gold Rises While Global Prices Fall: What’s Driving the Divergence?

Certified gold bars from PT Aneka Tambang Tbk (ANTM), widely known as Antam gold, recorded a price increase on Tuesday (April 21). In contrast, global gold prices moved in the opposite direction, posting a decline during the same trading session.

According to the official Logam Mulia website, the price of 1-gram Antam gold rose by IDR 40,000 to reach IDR 2,880,000. Meanwhile, the Antam gold buyback price also climbed by IDR 50,000, settling at IDR 2,690,000 per gram.

On the global front, data from Trading Economics showed that gold prices slipped by 0.75% to US$4,785.77 per troy ounce as of 14:10 WIB on Tuesday (April 21).

Chief Analyst at Doo Financial Futures, Lukman Leong, explained that the increase in Antam gold prices appears to reflect short-term market enthusiasm. This optimism is driven by expectations surrounding ongoing negotiations between the United States and Iran, which investors hope could lead to a peaceful resolution. However, uncertainty continues to linger, limiting sustained upward momentum in global gold prices.

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Geothermal Wins Gold

 

Barito Renewables Subsidiary Wins PROPER Gold Award for Environmental Excellence

A subsidiary of Barito Renewables Energy Tbk (BREN), through Star Energy Geothermal via Star Energy Geothermal Wayang Windu Ltd (SEGWWL), has secured the prestigious PROPER Gold Award from the Ministry of Environment and Forestry (KLH). The recognition highlights outstanding environmental performance that exceeds regulatory compliance while delivering sustainable social benefits.

President Director of Barito Renewables Energy and Group CEO of Star Energy Geothermal, Hendra Soetjipto Tan, emphasized the company’s commitment to responsible, eco-friendly, and sustainable operations. He noted that continuous innovation remains key to improving efficiency and maximizing community impact.

The PROPER Gold Award was achieved by the Wayang Windu geothermal power plant located in Pangalengan, driven by several key innovations. One major initiative, the WW Retro program (cooling tower retrofit for units 1 and 2), successfully reduced energy consumption by 31,622.4 GJ.

In terms of emissions reduction, the PACE WW (smart cooling system) program significantly cut greenhouse gas emissions by up to 1.75 million tons of CO₂ annually. Additionally, the ASIS TURBO program (Artificial Oil & Sweetening System) improved hazardous waste management by reducing used oil in turbine operations.

Meanwhile, two other geothermal assets—Salak in Sukabumi and Darajat in Garut—earned PROPER Green ratings, reinforcing the company’s strong environmental commitment and social responsibility.

With a total installed geothermal capacity of 926 MW across its assets, Barito Renewables Energy stands among the largest geothermal portfolio holders. By the end of 2026, the company is projected to operate 1 GW of geothermal capacity alongside 79 MW of wind power, further strengthening its position in the renewable energy sector.

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