Global Gold Price Projected to Reach US$10,000, Analyst Reveals Driving Factors

Jakarta, VIVA – Global gold prices are once again showing signs of strengthening after being confined below the US$4,800 to US$4,900 range. The precious yellow metal is projected to soar past the US$10,000 mark.

This optimism has emerged alongside rising demand for safe-haven assets, geopolitical tensions, and expectations of monetary policy easing by the United States. On Saturday, 21 February, gold closed at US$5,106.68 per troy ounce, up 2.57 per cent.

Global gold prices continued to strengthen through 13:00 WIB on Monday, 23 February 2026. Spot gold climbed to US$5,158.54, or approximately Rp86.6 million (estimated at an exchange rate of Rp16,810 per US dollar) per troy ounce over the longer term, according to Gold Price data.

Analysts assess that consolidation has occurred as market participants continue to monitor geopolitical developments, particularly tensions in the Middle East, which have led investors to maintain a risk premium in their gold price calculations.

Zaheer Anwari, founder and CEO of The Revacy Fund, said volatility had temporarily declined during the Lunar New Year holiday at Asian trading centres. However, he expected transaction volumes to recover the following week as market activity returned to normal.

“As the primary safe-haven asset, gold continues to benefit from strong demand and a broader shift away from US assets. These conditions are maintaining current price levels and potentially driving fresh gains,” Anwari said, as quoted by Khaleej Times on Monday, 23 February 2026.

He added that the sustained gold rally is underpinned by central bank accumulation across various countries. He also highlighted expectations of US monetary policy easing as a key factor driving the surge in precious metal prices.

However, Anwari did not rule out the possibility of corrections. A decline could occur if global tensions ease or expectations of interest rate cuts diminish due to recent economic data, which could put short-term pressure on gold prices.

A deeper correction could materialise if several factors turn negative simultaneously and persistently, including better-than-expected diplomatic talks in Eastern Europe and the Middle East. A more hawkish stance from the Federal Reserve and a slowdown in central bank gold purchases would also weigh on precious metal prices.