Latest Forecast for Gold and Silver Prices – Disappointing?

Jakarta, CNBC Indonesia - Gold and silver prices are forecast to remain under pressure this week amid persistent global uncertainties. According to Refinitiv, the gold price today, Monday (4/5/2026) at 06.50 WIB, stands at US$4,613.18 per troy ounce, down 0.01%. At the end of last week, gold closed 0.17% lower at US$4,613.62. Over the week, gold fell 2.02%. The sentiment for precious metals in the coming days will be heavily influenced by geopolitical and macroeconomic factors. “The focus next week will remain on developments in peace talks between the US and Iran, and their impact on oil, gold, and financial markets more broadly,” said Pranav Mer from JM Financial Services, to FX Market. What About Gold Prices This Week? The latest survey shows that the outlook for gold prices this week is varied, though slightly more optimistic sentiment prevails as market mood improves. According to the Kitco News survey, of 16 Wall Street analysts who participated, 8 (50%) predict gold prices will rise this week. Meanwhile, 5 analysts (31%) believe the precious metal could decline, and the remaining 3 expect prices to move sideways. This development reflects the tug-of-war between recovery expectations and ongoing pressures from monetary policy. Among individual investors, an online survey with 79 respondents also shows a similar view. 36 people (46%) expect gold prices to rise this week, while 24 (30%) predict a decline. The rest, 24%, believe gold will trade in a narrow range. Overall, while positive trends still dominate, market sentiment remains quite cautious. Regarding more specific prospects, Marc Chandler, Managing Director at Bannockburn Global Forex, said gold faces short-term correction risks. According to him, the recovery momentum from the US$4,510 per ounce area has weakened because prices failed to hold above US$4,647 per ounce. “This precious metal could test the US$4,495 per ounce area again. If this level is breached, gold prices could continue declining to around US$4,400 per ounce,” he said. From a macroeconomic perspective, Adam Button, Head of Currency Strategy at ForexLive, believes the “hawkish” trend in central bank policy is pressuring gold. He noted that expectations for global interest rates have risen significantly compared to two months ago, narrowing the chances of monetary policy easing. This means the opportunity cost of holding gold, which yields no return, is higher, thus limiting the upside potential for the precious metal’s price. Additionally, fluctuations in oil prices and inflation pressures continue to make central banks cautious, ultimately increasing instability in the gold market. Overall, this week gold prices are expected to continue fluctuating in a fairly wide range, with the trend direction unclear as supporting and pressuring factors remain intertwined.