Gold Prices Soar This Morning, 10 Global Institutions Forecast 3 New Scenarios
Jakarta, CNBC Indonesia - Gold prices immediately soared following news of a peace agreement between the United States (US) and Iran. This recovery keeps the opportunity for a short-term gold rally open, although the precious metal must still break through important resistance levels to confirm the next phase of the rally.
Referring to Refinitiv, gold prices soared today. On Monday (15/6/2026) at 06:41 WIB, the gold price was at US$ 4,285.2 per troy ounce, soaring 1.57%. On Friday last week (12/6/2026), gold prices closed up 0.11% at US$ 4,218.77 per troy ounce. This increase extends its positive trend after gold prices soared 3.5% in the last two days of the previous week (Thursday and Friday).
Gold prices soared amid strong signals that the war will end. The United States and Iran are reported to have reached an agreement to end their war. US President Donald Trump stated the deal is done, while Pakistani Prime Minister Shehbaz Sharif said the agreement includes a permanent cessation of military operations, including in Lebanon. The deal is also said to reopen the Strait of Hormuz, end the US naval blockade of Iran, and extend the ceasefire. The official signing is scheduled to take place in Switzerland next Friday.
This agreement is expected to suppress oil prices and inflation. The news immediately caused the dollar index to weaken to 99.51, its lowest level in five days. Gold purchases are converted into US dollars, so a weakening dollar will increase demand. The peace deal is also expected to suppress oil prices and US inflation, meaning the Fed will no longer be hawkish.
Latest Gold Forecasts
Gold prices experienced a turbulent week last week. Pressure from rising US inflation and expectations that interest rates will remain high pushed the precious metal down near the important support level of US$4,000 per ounce before recovering slightly at the end of the week.
Bannockburn Global Forex Managing Director Marc Chandler said the late-week recovery is good news. However, momentum indicators have not yet shown a clear reversal signal. Based on the weekly Kitco News survey, Wall Street analysts are now much more cautious than the previous week. The majority chose to wait for the results of the Fed’s policy meeting before taking new positions.
Adrian Day Asset Management Chairman Adrian Day assessed that the chance of gold having formed a short-term bottom is increasing. According to him, if inflationary pressures ease and the Fed does not raise interest rates in the near term, gold prices have the potential to continue their recovery.
Meanwhile, Trade Nation senior analyst David Morrison warned that gold is still in a technically risky area. Although a short-term recovery occurred, the downtrend has not truly ended.
A more optimistic view came from Asset Strategies International Chairman and CEO Rich Checkan. According to him, gold’s ability to hold in the US$4,000 per ounce area is a positive signal. If the Fed maintains interest rates at the upcoming meeting, gold prices have the opportunity to strengthen in the coming weeks.
StoneX Group senior commodities broker Daniel Ghali added that the gold market is currently entering an accumulation phase after experiencing a rally cycle over the last three years.
FxPro senior analyst Alex Kuptsikevich said price consolidation around US$4,000 per ounce can help the market complete the necessary correction process before entering a new rally cycle in the coming years.
On the other hand, CPM Group advised investors to remain cautious in the short term because market volatility is still high. They forecast gold prices will move in a wide range, between US$3,800 and US$4,650 per ounce, until the end of summer.
This week, market attention will focus on the Fed’s policy meeting and US retail sales, housing sector, and manufacturing data. New signals related to inflation and interest rates are expected to determine the direction of gold’s next movement after weeks of sharp fluctuations.