Gold Price Forecast: Potential Surge to Rp 2.82 Million per Gram

Escalating Global Tensions Drive Precious Metal Prices

The global gold price and precious metals are predicted to experience significant upward momentum, potentially reaching Rp 2.82 million per gram, amid escalating trade tensions and geopolitical conflicts in the Middle East. Currency and commodity analyst Ibrahim Assuaibi noted that if gold prices break through their second resistance level, this substantial increase could materialize.

Current Market Position and Resistance Levels

As of the latest trading session, the global gold price closed at US$ 4,595 per troy ounce, while the local Indonesian price for gold stood at Rp 2.68 million per gram. Assuaibi outlined two potential scenarios based on resistance levels: the first resistance at US$ 4,655 per troy ounce (potentially pushing local prices to Rp 2.7 million per gram) and the second at US$ 4,706 per troy ounce (which could drive prices to Rp 2.82 million per gram).

Market Volatility and Investor Behavior

The price movement is expected to be highly volatile as it follows global economic developments and geopolitical events. Investors are advised to monitor these resistance levels closely as they will be crucial in determining the short-term direction of gold prices. The current global economic uncertainty is creating a favorable environment for gold as a safe-haven asset, potentially driving prices higher.