Indonesian gold miners eye shinier 2025 as prices shatter new records

Analyst projects $3,700 per ounce by year-end, but output unlikely to keep pace

20250422 Gold Indonesia

Gold jewelry on display in a shop in Lhokseumawe in Indonesia's Aceh province. Gold miners in the country, Southeast Asia's largest producer of the bullion, are expected to post higher profits this year following similar earnings boosts in 2024. © AP

NANA SHIBATA and REZHA HADYAN

JAKARTA -- Indonesian gold miners enjoyed profit surges last year and are eyeing further earnings boosts in 2025 as global economic uncertainties are driving investors toward safe-haven assets, repeatedly shattering the record price of the precious metal.

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