Gold Price Forecast for Thursday 12 March 2026: Between Record Highs and Correction Threats
PT Aneka Tambang Tbk (Antam) gold bars have reached a new record high on Wednesday 11 March 2026, breaking through IDR 3,087,000 per gram. However, this position is predicted to experience volatility during trading on Thursday 12 March 2026 as global energy market dynamics and the release of United States economic data unfold.
One of the main sentiments weighing on gold prices tomorrow is the sharp collapse of global crude oil prices down 11 per cent to the USD 85-87 per barrel range. This sharp decline occurred after US President Donald Trump signalled strongly that military conflict with Iran in the Middle East would soon end.
Historically, drastic energy price declines can alleviate global inflation pressure. This condition has the potential to reduce the appeal of gold as a hedging asset, thereby triggering profit-taking action by major investors in the global spot market.
The primary market focus on Wednesday evening (WIB) is the release of United States Consumer Price Index (CPI) data for February. Market consensus estimates annual inflation to be at 2.4 per cent. If actual inflation comes in lower than expected, this would strengthen expectations of an interest rate cut by the Federal Reserve, which typically serves as a positive sentiment for gold.
However, if inflation remains high amid geopolitical tensions that have not fully subsided, the US dollar risks strengthening and pushing gold prices back down below the psychological level of USD 5,150 per troy ounce.
Based on technical analysis and fundamental sentiment, Antam gold prices on Thursday are predicted to move within the range of IDR 3,065,000 to IDR 3,095,000 per gram. The potential for slight correction is very much open given that gold prices have risen substantially over the last three days.
Investors are advised to remain vigilant regarding the price spread, which reaches IDR 240,000 per gram. For long-term investment, gold remains a premier choice; however, for short-term speculation, the risk of volatility following the release of US CPI data needs to be anticipated carefully.
Gold prices have risen sharply over the past week driven by military escalation in the Middle East involving the United States, Israel, and Iran. Global gold prices surged more than 1 per cent to the level of USD 5,373 per troy ounce as a result of the Middle East conflict escalation.