Heaptalk, Jakarta — The Commodity Futures Trading Regulatory Agency (Bappebti) held a Digital Physical Gold Literacy and Exhibition agenda in Tangerang, Banten, on Friday (12/13). Around 200 participants, including business actors, the futures trading ecosystem, academics, and the general public, attended the event.
In a separate location, Kasan, the Head of Bappebti, stated that digital trading for physical gold provides convenience, speed, and efficiency. This type of transaction can optimize commodity futures trading. Improving commodity futures trading performance through strengthening commodity-based multilateral transactions, including gold, will positively impact economic growth towards Golden Indonesia 2045.
“With clear regulations, Bappebti ensures that physical gold transactions are conducted with a 1:1 guarantee or the amount of gold traded is equal to that stored in the depository,” Kasan said.
Olvy Andrianita, Bappebti Secretary, officially opened the Literacy and Physical Gold Exhibition agenda. Olvy stated that gold trading has long been known to the public. In the past, people traded gold conventionally. As technology developed, conventional gold trading transformed into digital trading for physical gold through marketplaces. Thus, people can trade gold more efficiently, swiftly, and affordably.
Furthermore, Bappebti recorded a significant increase in the volume and value of gold transactions from January to November 2024. The transaction value increased to IDR 53.3 trillion (up 556%) compared to the same period in 2023, Rp8.1 trillion. The volume reached 43.9 tons (up 430.6%) compared to the same period in 2023, which was 8.3 tons. Olvy projects a 10-20% increase in volume and transaction value.
Tirta Karma Senjaya, Head of Commodity Futures Trading Development and Supervision Bureau, said digital trading for physical gold transactions is at its highest level. “This increase is partly influenced by the rise in gold prices in the global market. This is a great momentum to strengthen literacy among the public regarding digital trading for physical gold,” voiced Tirta.
According to him, the low level of public trust and understanding regarding this type of trading remains a challenge amid this industry’s positive prospects. Bappebti will conduct continuous education and literacy activities and collaborate with various parties and encourage innovations that can enhance the competitiveness of Indonesian commodity exports in the global market.
