Gold Price Predicted to Fluctuate Between IDR 2.41–IDR 2.72 Million Per Gram Next Week

Gold prices are likely to remain within a specific range next week, hovering between IDR 2.41 million and IDR 2.72 million per gram, according to commodity analyst Ibrahim Assuaibi. He predicts global gold prices will trade between $3,836 and $4,290 per troy ounce, with short-term support at $3,990 and resistance at $4,132.

Assuaibi highlighted several key factors influencing the fluctuations in gold, crude oil, and the US dollar. These include geopolitical issues, domestic politics in the United States, the US central bank's policies, and the fundamental forces of supply and demand. The analyst specifically pointed to the ongoing conflict in the Middle East as a significant driver for oil prices.

Media reports indicate that the US and Israel are preparing for a large-scale bombing campaign against Iran's energy infrastructure next week. This action is intended to halt Iran's uranium enrichment activities. Iran has warned of retaliation if attacked. Simultaneously, Saudi Arabia is organizing an international maritime defense coalition to secure the Bab el-Mandeb Strait and the Red Sea from threats posed by Yemen's Houthi group and Iran. The Red Sea and the Strait of Hormuz are critical shipping lanes, particularly for crude oil transport, and disruptions could escalate regional tensions.