Gold Prices Projected to Breach Rp 3.1 Million, Driven by Global Turmoil
REPUBLIKA.CO.ID, JAKARTA — Currency and commodity analyst Ibrahim Assuaibi projects that the price of precious metals in the domestic market could breach Rp3.1 million per gram within the next week. This projection is supported by the potential strengthening of global gold prices, which are expected to surpass the psychological level of $5,000 per troy ounce.
Global gold prices were recorded at $4,749 per troy ounce on Saturday morning (11/4/2026). In the domestic market, the price of precious metals is in the range of Rp2,860,000 per gram, with a tendency to move fluctuatively following global dynamics.
“In the next week, global gold prices could breach above $5,000 per troy ounce up to $5,138. Precious metal prices could approach Rp3,100,000 per gram,” said Ibrahim, quoted on Sunday (12/4/2026).
He explained that gold price movements in the near term are likely to widen. On the downside, gold prices could correct to $4,638 per troy ounce, and could even fall deeper to $4,358 in a stronger pressure scenario.
In the domestic market, precious metal prices are projected to drop to Rp2,840,000 per gram in the initial correction phase. Further declines could open opportunities for prices to move to the range of Rp2,780,000 per gram. “In a week, the decline could occur to $4,358 per troy ounce,” said Ibrahim.
On the upside, gold prices have room for strengthening with initial resistance at $4,897 per troy ounce. This rise could push precious metal prices to Rp2,880,000 per gram before continuing the higher trend.
The wide price movements are influenced by global geopolitical developments, particularly dynamics in the Middle East region. Plans for negotiations between the United States and Iran mediated by Pakistan are one of the main factors being monitored by market players. “If a ceasefire occurs, oil prices could fall and impact gold movements,” said Ibrahim.
He assessed that easing conflicts could pressure global inflation and open room for the US central bank to lower interest rates. This condition could increase gold’s attractiveness as a hedging asset.