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🇮🇩 Indonesia /Economy & Trade

What Could Drive Gold Prices Higher Next Week?

From Tempo · () Indonesian

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Global gold prices are predicted to strengthen next week, potentially reaching US$4,493 per troy ounce.
  • Geopolitical tensions in the Middle East, the Russia-Ukraine war, and Federal Reserve interest rate policies are key factors influencing gold prices.
  • The Federal Reserve is expected to keep interest rates unchanged in September, especially after a decline in U.S. employment data.

Global gold prices are poised for a potential increase in the coming week, with predictions suggesting a rise to around US$4,493 per troy ounce. Ibrahim Assuaibi, Director of PT Traze Andalan Futures, forecasts that gold will find support at US$4,405 per troy ounce on Monday. As of Sunday, August 9, 2026, the world gold price stood at US$4,343.43 per troy ounce.

For Monday, support is likely at US$4,405 per troy ounce.

— Ibrahim AssuaibiDirector of PT Traze Andalan Futures, predicting support levels for gold prices.

Several geopolitical factors are contributing to the anticipated strengthening of gold prices. Tensions in the Middle East, including the agreement between Iran and Oman to control the Strait of Hormuz, and the ongoing war between Russia and Ukraine, are significant drivers. These global uncertainties often lead investors to seek refuge in gold as a safe-haven asset.

The U.S. Federal Reserve is likely to keep interest rates unchanged in September.

— Ibrahim AssuaibiDirector of PT Traze Andalan Futures, on the Federal Reserve's potential interest rate decision.

Beyond geopolitical concerns, the U.S. Federal Reserve's monetary policy plays a crucial role. Assuaibi anticipates that the Fed will likely maintain current interest rates in September, particularly following a recent U.S. employment data report showing a decline of 23,000 jobs. This expectation of stable interest rates can make gold more attractive compared to interest-bearing assets.

Dupoin Futures sees gold prices still receiving support from increasing demand for safe-haven assets.

— Geraldo KofitAnalyst at Dupoin Futures, on factors supporting gold prices.

Analysts also point to other factors supporting gold. Geraldo Kofit, an analyst at Dupoin Futures, noted that gold prices are receiving support from increasing demand for safe-haven assets and weakening global oil prices. Lower energy prices can help alleviate inflationary pressures, potentially giving the Fed more room to ease monetary policy if economic conditions deteriorate. Additionally, declining U.S. Treasury yields reduce the attractiveness of bonds, further driving investors toward gold.

This is one reason why the prospect of gold price increases remains strong, even as the market awaits important economic data.

— Geraldo KofitAnalyst at Dupoin Futures, on the outlook for gold prices.
DistantNews Editorial

Originally published by Tempo. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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