Indonesian society holds approximately 1,800 tons of gold with a value reaching Rp 4,460 trillion. Coordinating Minister for Economic Affairs Airlangga Hartarto sees the great potential of this gold for the growth of the bullion ecosystem in Indonesia. He hopes that at least 20% of the gold held by the community can be allocated to financial instruments or Islamic banking. With ownership of 1,800 tons, Indonesia is below the United States and China in terms of gold reserves, but above India and Singapore. Nevertheless, the gold reserves at Bank Indonesia are still relatively low, only around 70 tons.
