Gold Price Projected to Rise to Rp2.79 Million per Gram This Week

Amid global economic uncertainty, gold prices are projected to move within a wide range, from Rp2.55 million to Rp2.79 million per gram. This reflects high volatility as well as strong investor interest in safe-haven assets. At the end of last week’s trading, global gold prices stood at US$4,155 per troy ounce, while domestic bullion prices closed at Rp2.668 million per gram. Currency and commodity analyst Ibrahim Assuaibi assessed that gold’s direction this week will remain heavily influenced by global sentiment, including US dollar movements, geopolitical conditions, and energy market dynamics. According to Ibrahim, if selling pressure dominates the market, global gold prices could correct towards the first support level at US$4,088 per troy ounce, with domestic prices estimated around Rp2.648 million per gram. Should the pressure persist, gold could fall further to a second support level at US$3,859 per troy ounce, bringing domestic prices to approximately Rp2.55 million per gram. However, the potential for strengthening remains open. If market sentiment drives investors back towards safe-haven assets, global gold prices could rise towards the first resistance level at US$4,243 per troy ounce, with domestic prices reaching Rp2.688 million per gram. If the upward momentum continues, global gold could breach the second resistance level at US$4,465 per troy ounce, potentially pushing domestic prices to Rp2.79 million per gram. Ibrahim stated that for the coming week, global gold’s support is at US$3,859 per troy ounce and resistance at US$4,465 per troy ounce, with domestic bullion trading between Rp2.55 million and Rp2.79 million per gram. Market participants are also monitoring global currency movements, with Ibrahim forecasting the US dollar index could strengthen and trade in the range of 99.2 to 101.7.