April 12, 2026 | 07:08 pm
TEMPO.CO, Jakarta - Director of PT Traze Andalan Futures Ibrahim Assuaibi has projected that gold prices could rise to Rp 3.1 million per gram in next week’s trading, driven by expectations of a further surge in global prices.
“The world gold price will likely jump above US$5,000, specifically at US$5,138. Gold could reach Rp 3,100,000 per gram,” Ibrahim said in a voice message on Sunday, April 12, 2026.
Meanwhile, global gold prices closed at US$4,749 per troy ounce in Saturday morning trading on April 11, while domestic prices stood at around Rp 2,860,000 per gram.
For the coming week, Ibrahim said gold still has room to strengthen alongside rising global prices. However, if a correction occurs, he expects initial support at around US$4,683 per troy ounce, with domestic prices potentially easing to Rp 2,840,000 per gram.
He outlined four key factors driving gold price volatility.
First, geopolitical tensions, including the conflict involving the United States and Israel against Iran. He said any progress in negotiations between Iran and the U.S., including a possible two-week pause, could push oil prices lower and ease inflationary pressures. That, in turn, may allow the U.S. Federal Reserve to cut interest rates, which would support higher gold prices.
Second, U.S. political developments. He pointed to recent remarks by President Donald Trump threatening Iran, which he said have triggered domestic criticism and calls for impeachment.
Third, leadership changes at the Federal Reserve in early May. Ibrahim said nominee Kevin Walsh has signaled alignment with Trump on interest rate cuts.
Fourth, supply and demand dynamics. He said global central banks continue to diversify reserves into gold amid rising geopolitical risks, adding that some major countries view current global conflicts as part of a broader escalation. “Big countries have intervened, and this is a fact on the ground that a third world war is already happening, causing problems in the global economy,” he said.
At the same time, Ibrahim expects the Indonesian rupiah to remain under pressure against the US dollar, potentially weakening beyond the Rp 17,000 level.
The rupiah closed at 17,104 per US dollar on April 10, down 0.08 percent from the previous day, and has remained above the 17,000 level throughout the week.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are solely responsible for their investment decisions.
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