The Commodity Futures Trading supervisory agency (Bappebti) encourages the optimization of Commodity Futures Trading (PBK) including gold in order to create positive economic growth to achieve Indonesia gold 2045.
Head of Coftra Kasan said Coftra ensures the security of physical gold trading digitally and ensures that gold transactions will be the same value as those stored at the management.
“With clear regulations, Bappebti ensures that physical gold transactions are carried out with a 1:1 guarantee or the amount of gold that is transacted is the same as that stored in the depository manager,” Kasan said in a statement in Jakarta, Tuesday.
Bappebti recorded a significant increase in the volume and value of gold transactions in January-November 2024. The increase in transaction value reached Rp53.3 trillion (an increase of 556 percent) compared to the same period in 2023 which amounted to Rp8. 1 trillion.
In terms of volume, it reached 43.9 tons (an increase of 430.6 percent) compared to the same period in 2023 which was 8.3 tons. This figure is projected to increase by 10-20 percent, both volume and transaction value.
Meanwhile, head of construction and Development Bureau of PBK Tirta Karma Senjaya said that the position of physical gold trading transactions digitally is at the highest level.
“This increase is one of them influenced by the increase in gold prices in the global market. This is a very good momentum to strengthen literacy to the community related to digital physical gold trading,” said Tirta.
Tirta said, the level of trust and understanding of the public which is still minimal regarding the digital trading of physical gold is a challenge amid the positive prospects of this industry.
Bappebti will conduct ongoing education and literacy activities and collaborate with various parties on digital physical gold trading. Bappebti also encourages innovation that can improve the competitiveness of Indonesian commodity exports in the global market.
“The public is encouraged to make transactions through merchants registered with Bappebti. Trading physical gold digitally is safer and more reliable because it is through licensed traders,” he said.