Gold Prices Predicted to Fluctuate Between Rp 2.41–Rp 2.72 Million per Gram Next Week
Gold prices continue to experience fluctuations and a downward trend amidst various global financial market dynamics. It is predicted that next week, gold prices will not penetrate the Rp 2.8 million per gram level.
Currency and commodity analyst Ibrahim Assuaibi analysed that, technically, global gold prices next week are likely to be traded at a support level of US$ 3,836 per troy ounce up to a resistance level of US$ 4,290 per troy ounce. In the short term, he predicts the support level for global gold prices to be at US$ 3,990 per troy ounce, while the resistance level sits at US$ 4,132 per troy ounce.
“For precious metals specifically, it is highly likely that next week they will be traded at a support level of Rp 2.41 million per gram, with resistance at Rp 2.72 million per gram. In the short term, the support level is likely at Rp 2.58 million per gram and resistance at Rp 2.623 million per gram,” Ibrahim stated in a briefing to journalists on Sunday (2/8/2026).
In line with these projections, WTI crude oil is expected to range between US$ 80.50–96 per barrel, while Brent Crude Oil is projected to move between US$ 95–105 per barrel. Meanwhile, the US dollar index is estimated to be around 99.20–102.20.
“Several factors are influencing the fluctuations in the dollar index, crude oil, gold, and precious metals, namely geopolitical issues, US politics, US Central Bank policies, and finally, supply and demand,” he explained.
Regarding geopolitical issues, Ibrahim noted that conflicts in the Middle East continue to serve as a benchmark for rising global oil prices. Some US media outlets have reported that the US and Israel are preparing a massive bombing campaign against Iran’s energy infrastructure next week.
“What does this mean? That the US and Israel are serious about conducting a large-scale attack to stop Iran from enriching uranium. Iran has also warned the US and Israel that if an attack occurs, they will not remain silent and will launch a counter-attack,” he said.
On the other hand, Saudi Arabia is holding a meeting to form an international maritime defence coalition or an Arab union to secure the Bab el-Mandeb Strait and the Red Sea from the threat of maritime blockades imposed by the Houthich groups in Yemen and Iran.
“We know that to this day, the Red Sea is being blockaded by the Yemen Houthis. We can see that the Red Sea is one of the crude oil transport routes, especially for Saudi Arabia. Secondly, there is the blockade of the Strait of Hormuz. We see that transportation in the Strait of Hormuz is still limited. This means there will be further tension in the Middle East if the US and Israel carry out a large-scale attack against Iran,” he explained.