Gold Prices Forecast to Soar to Rp 2.9 Million per Gram Next Week Amid Geopolitical Tensions

JAKARTA – Global gold and precious metal prices are expected to remain volatile in the coming week amid rising geopolitical tensions, a strengthening US dollar, and uncertainty over the US Federal Reserve’s interest rate policy direction.

Domestic gold prices could potentially breach Rp 2.9 million per gram if the upward trend continues.

Global gold prices fell during Saturday’s (23 May 2026) New York trading session as investors increased expectations of tighter monetary policy by the Federal Reserve. The sentiment followed remarks by Fed Governor Christopher Waller suggesting potential rate hikes, citing inflation risks from the Iran conflict.

According to Bloomberg, spot gold fell 0.8% to $4,508.75 per troy ounce at 15:47 New York time. Silver dropped 1.4% to $75.61 per troy ounce, while platinum and palladium also weakened.

He noted that if global gold prices weaken in the short term, the first support level is expected at $4,414 per troy ounce. At this level, domestic precious metal prices are projected to drop by approximately Rp 20,000 to Rp 2,753,000 per gram.

However, if selling pressure continues to the next support level of $4,333 per troy ounce, gold prices could fall further to around Rp 2,650,000 per gram.

“If it weakens tomorrow (Monday, 25 May 2026), the support level is at $4,414, with a possible drop of Rp 20,000 to Rp 2,753,000. If it falls further to $4,333 per troy ounce, gold prices could reach Rp 2,650,000 per gram.”

He forecasts the first resistance level for global gold at $4,606 per troy ounce, which could push domestic prices up to Rp 2,797,000 per gram.

The second resistance level is projected at $4,943 per troy ounce. If reached, domestic gold prices could surpass Rp 2,900,000 per gram.

“If global gold strengthens, the first resistance is at $4,606, pushing prices to Rp 2,797,000 per gram. The second resistance is at $4,943, leading to Rp 2,900,000 per gram.”