Cikini Gold Center Sees Quiet Demand Ahead of Eid al-Fitr Amid High Prices
Jakarta, Indonesia – The Cikini Gold Center, a prominent hub for gold and jewelry trading in Central Jakarta, is experiencing subdued buyer activity in the lead-up to Eid al-Fitr, traditionally a peak season for gold purchases. This year, though, higher gold prices are impacting consumer demand.
Slower Sales Compared to Previous Years
As of March 7, 2026, the Cikini Gold Center reported a slower pace of sales compared to previous years, particularly on weekends. Adrian, a shopkeeper specializing in gold bullion at the center, noted an increase of only 5-10% in foot traffic, significantly lower than the levels seen in prior years detikFinance.
Rising Gold Prices Impacting Affordability
The primary factor contributing to the slower sales is the substantial increase in gold prices, currently exceeding Rp 3 million per gram. This price point is proving challenging for many consumers, as wage growth has not kept pace with the rising cost of the precious metal detikFinance.
Previously, 0.5 gram of gold could be purchased for around Rp 1.5 million, but current prices are significantly higher, even with the slight markup applied by retailers compared to direct purchases from Antam.
Purchase Patterns and Anticipated Surge
Despite the current slowdown, traders remain optimistic about a potential surge in purchases closer to Eid al-Fitr. The peak buying period is typically expected to begin 10 days before the holiday, as many workers receive their Tunjangan Hari Raya (THR) – Eid bonus – and allocate a portion of these funds towards gold purchases detikFinance.
Customers often prefer to purchase smaller quantities of gold, such as 0.5 gram or 1 gram pieces, buying multiple units rather than larger denominations. This is common for both personal savings and as gifts. Some companies too purchase gold as appreciation gifts or as part of employee THR packages.
Cikini Gold Center: A Long-Standing Trading Hub
Established in 1962, the Cikini Gold Center has a long history as a renowned gold and jewelry trading center in Jakarta Tripadvisor. It is known for its skilled craftsmanship and remains a popular destination for shoppers. The center houses numerous shops offering a wide range of gold jewelry and bullion Media Indonesia.
Toko Emas Cikini, established in 1986, is one of the many retailers operating within the Cikini Gold Center, offering gold jewelry ranging from 16K to 24K Instagram.