Global Gold Price Predicted to Rise Following Attack on Iran

The Director of PT Traze Andalan Futures, Ibrahim Assuaibi, forecasts that global gold prices will surge sharply to approximately US$5,440 per troy ounce during trading on Monday, 2 March 2026. On Friday, 27 February 2026, global gold prices closed at US$5,278 per troy ounce.

Ibrahim stated that the price increase is a consequence of escalating conflict following Israeli-American strikes on Iran. He believes that war in the Middle East is likely to continue erupting in both the short and medium term. “This will therefore have a positive impact on global gold prices,” Ibrahim said in a statement on Sunday, 1 March 2026.

According to Ibrahim, global gold prices are likely to break through US$5,500 the following week. The increase will also impact precious metal prices. Ibrahim indicated that precious metal prices could rise to levels between Rp3.3 million to Rp3.4 million per gram. However, on the other hand, he also predicted that the rupiah will weaken as a consequence of the conflict.

Israel and the United States attacked Iran on Saturday, 28 February 2026. In response to the attack, the Indonesian government, through the Ministry of Foreign Affairs, called on all parties involved to exercise restraint and prioritise dialogue and diplomacy.

The Ministry of Foreign Affairs also stated that Indonesia has put itself forward as a dialogue facilitator. “Should both parties agree, the Indonesian President is prepared to travel to Tehran in order to conduct mediation,” as stated in the ministry’s statement on Saturday, 28 February 2026.