Jakarta. Indonesia’s Antam gold prices pulled back on Thursday after briefly hitting a fresh all-time high, snapping a two-day surge that had lifted bullion to record territory.

Antam’s one-gram gold bar fell Rp 15,000 to Rp 2,790,000 ($165.03) per gram on Thursday, retreating from Wednesday’s historic peak. Data from Logam Mulia showed prices had jumped Rp 35,000 to Rp 2,772,000 per gram earlier on Wednesday, before climbing another Rp 33,000 to Rp 2,805,000 per gram by the afternoon, the highest level on record for Antam gold.

The buyback price for Antam gold also declined Rp 15,000 on Thursday to Rp 2,635,000 per gram.

Antam Gold Price (Thursday, Jan. 22):

• 0,5 gram: Rp 1,445,000
• 1 gram: Rp 2,790,000
• 2 gram: Rp 5,520,000
• 3 gram: Rp 8,255,000
• 5 gram: Rp 13,725,000
• 10 gram: Rp 27,395,000
• 25 gram: Rp 68,362,000
• 50 gram: Rp 136,645,000
• 100 gram: Rp 273,212,000
• 250 gram: Rp 682,765,000
• 500 gram Rp 1,365,320,000

The pullback in domestic prices came even as global gold extended its rally. World gold prices printed a new all-time high on Wednesday, breaking above $4,800 per troy ounce, driven by rising demand for safe-haven assets amid escalating geopolitical tensions.

According to goldprice.org, spot gold stood at $4,793.69 per ounce as of 10:30 p.m. New York time on Jan. 21, up 32.56 points or 0.68%.

The surge in global bullion prices has been fueled by mounting geopolitical risks, including recent remarks by US President Donald Trump regarding his ambition to gain control over Greenland. Although Trump said he would not resort to military force, the comments have nonetheless unsettled markets.

Separately, investor caution has also been heightened by developments in the United States Supreme Court, which is reviewing a lawsuit related to Trump’s attempt to dismiss Federal Reserve Governor Lisa Cook,  a case widely seen as a key test of the US central bank’s independence.