Gold prices projected to stabilize between RM520 and RM563 per gram

Gold prices are anticipated to find new support between $4,000 and $4,300 per ounce, navigating current market volatility. Despite recent dips, the precious metal remains at elevated levels.

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The current state of the gold market does not indicate a major fall, but rather a profit-taking process after a strong rally throughout 2025.

Analysts suggest the current market behavior is a profit-taking phase following a robust rally, rather than a significant downturn. UniKL Business School's Aimi Zulhazmi Abdul Rashid noted that gold's long-term trend shows positive momentum, with prices increasing by 175.6% from January 2020 to June 2026. He pointed out a 26% rise in the past year alone.

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From a long-term perspective, the gold trend still shows positive momentum, with prices increasing by 175.6 percent from January 2020 to June 2026.

However, the short-term outlook suggests a more sideways movement after a substantial correction. Gold prices have fallen over 25% from their March peak of $5,418.82 per ounce, currently hovering around $4,126.92 per ounce. Key technical indicators place support at $4,000 per ounce and resistance between $4,120 and $4,180 per ounce. The overall trend remains downward as long as prices stay below the $4,250 to $4,415 per ounce zone.

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However, for the short term, gold's movement is more sideways after experiencing a significant correction.

Looking ahead, factors like potential interest rate cuts by the US Federal Reserve could support gold prices. A weaker US dollar also tends to benefit the metal. Conversely, sustained high interest rates and a stronger US dollar could limit gold's upward potential. I-CATS University College's Abu Sofian Yaacob highlighted that while gold could rise despite low oil prices, its gains might be constrained by persistent high interest rates and a strengthening dollar.

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Key support is seen around $4,000 per ounce, while resistance is in the range of $4,120 to $4,180 per ounce.