Gold Price Predicted Between Rp 2.55–2.79 Million Per Gram Next Week, Prepare for Investment!

The price of gold, a safe-haven asset, is expected to remain volatile in the coming week, with predictions placing it between Rp 2.55 million and Rp 2.79 million per gram. This fluctuation occurs against a backdrop of ongoing global uncertainty, which typically drives demand for gold.

As of the end of the current week, global gold prices stood at $4,155 per troy ounce. Domestically, the price of gold was recorded at Rp 2.668 million per gram. Currency and commodity observer Ibrahim Assuaibi forecasts that if gold prices experience a correction, the support level will be around $4,088 per troy ounce, translating to Rp 2.648 million per gram. A further correction could push the support level down to $3,859 per troy ounce, with gold prices potentially reaching Rp 2.55 million per gram.

Conversely, if global gold prices strengthen, the first resistance level is anticipated to be $4,243 per troy ounce, or Rp 2.688 million per gram. A continued upward trend could see prices reach $4,465 per troy ounce, or Rp 2.79 million per gram. "So, the price of gold or precious metals for the week ahead will be at $3,859 per troy ounce as support and resistance at $4,465 per troy ounce. For precious metals, it will be in the range of Rp 2.55 million to Rp 2.79 million per gram for the week," Ibrahim stated.

In addition to gold price movements, the US dollar index is predicted to strengthen, moving between 99.2 and 101.7. The Indonesian rupiah is expected to trade in the range of Rp 17,600 to Rp 18,000 against the US dollar. Meanwhile, global crude oil prices are likely to trade between $70 and $80 per barrel next week.

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So, the price of gold or precious metals for the week ahead will be at $3,859 per troy ounce as support and resistance at $4,465 per troy ounce. For precious metals, it will be in the range of Rp 2.55 million to Rp 2.79 million per gram for the week.