REPUBLIKA.CO.ID, JAKARTA -- Gold prices are plunging amid a corrected stock market. Acting President Director of PT Bank Syariah Indonesia Tbk (BSI), Bob Tyasika Ananta, said there is a tendency for the allocation of public funds starting to lead to gold.
“A little bit,” he said when asked if there was a transfer of funds to gold when he met in his office on Tuesday (15/4/2025).
Bob explained that BSI's gold balance grew by 40 percent year-to-date (ytd) or increased by 177.32 kilograms until April 31, 2025. Meanwhile, gold sales rose 25 percent on an annual basis (year on year).
BSI's Director of Sales & Distribution Anton Sukarna said it had not yet calculated exactly the volume of fund switching from stocks to gold. However, he insists investors always look for investment alternatives when the stock market weakens.
“Yesterday we had an incident, all our stocks fell. Automatically people look for other than stocks let alone we have to survive, then he switches to gold. But if the numbers or data of the displacement do not exist, I cannot track it,” Anton said.
BSI's Vice President of Digital Strategy and Development, Riko Wardhana, said interest in buying gold increased significantly in April 2025. Even so, he also does not yet have exact data on the source of the funds transferred to gold.
“We haven't tracked it down yet. We just look at it, if the gold had risen,” Riko said.
He revealed that since last February, average gold sales in the BSI have soared. “From about 30 kilograms per month, to 64 kilograms, then to 125 kilograms,” he explained.
“But if from where, the tracking from capital markets of all sorts is not there yet,” Riko added.
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