April 17, 2025 | 03:26 pm
TEMPO.CO, Jakarta - The global gold price has surged past US$3,300 per troy ounce in trading on Thursday, April 17, 2025.
According to Rully Arya Wisnubroto, Head of Research and Chief Economist at PT Mirae Asset Sekuritas, the price still has room to rise, particularly during the 90-day window before the U.S. implements new import tariffs.
“Gold is currently the market’s favorite. Yesterday, it broke past the US$ 3,300 mark,” Rully said during a press briefing at Pacific Century Place Tower, SCBD, Jakarta, on Thursday.
Trading Economics data showed that on Wednesday, April 16, 2025, at 3:00 PM WIB (Western Indonesia Time), gold price climbed from US$3,200 to US$3,308 per troy ounce. This morning at 08:15 AM, prices peaked even higher at US$ 3,356 per troy ounce.
In the short term, Rully said, the gold price still has the potential to increase from that level.
"At least for three months or the 90 days mentioned by Trump, it still has the potential to keep the gold price high, the probability of an increase is also still quite large," he said.
The surge in commodity prices is largely driven by investors shifting their portfolios toward assets perceived as appreciating or safe havens, amid mounting global uncertainty caused by escalating trade tensions.
Andy Nugraha, an analyst at Dupoin Indonesia, noted that the current geopolitical and economic landscape is strongly fueling the bullish trend in gold. “The rising tension between the United States and China is a key factor,” he said in an official statement.
The latest flare-up came after U.S. President Donald Trump launched an investigation aimed at imposing tariffs on rare earth imports from China.
According to Andy, this move has further intensified the trade war and heightened fears of a global economic slowdown, prompting investors to seek the security of safe haven assets.
Andy emphasized that this negative sentiment has been a strong trigger for the strengthening of gold prices in recent days. Based on the current technical analysis, he projected that the gold price today has the potential to continue to rise to US$3,375.
"However, if there is a backlash or reversal pressure, the decline could reach the level of US$ 3,294 as the nearest correction target," he said.
Editor's Choice: Starting Your Antam Gold Investment: 4 Essential Tips for Beginners
Click here to get the latest news updates from Tempo on Google News
Indonesia and U.S. Reaffirm Commitment to Bilateral Cooperation
1 jam lalu
Indonesia's Foreign Minister Sugiono is the first ASEAN foreign minister to be received by the U.S. Secretary of State in Washington, D.C.
U.S. Senator Demands Justice for Kilmar Abrego Garcia, Wrongly Deported Migrant
2 jam lalu
The visit of US Senator Chris Van Hollen to El Salvador to urge the release of Kilmar Abrego Garcia, who was erroneously deported from the US.
Kadin Indonesia Unfazed by Trump's Tariffs on Halal Industry
6 jam lalu
The Chamber of Commerce and Industry (Kadin) is confident that the ASEAN market can become an opportunity for the Indonesian halal industry.
Joe Biden Slams Trump's Domestic Policies in First Post-Presidency Speech
17 jam lalu
After leaving the position of U.S. president, Joe Biden delivers a speech and criticizes Trump's domestic policies for the first time.
Trump's Press Secretary Faces Backlash Over Chinese-Made Dress Amid Tariff Dispute
19 jam lalu
The trade war tariffs have extended to social media, resulting in the Trump's spokesperson being heavily mocked for wearing a Chinese-made lace dress.
White House Says China Faces Up to 245% Tariff Rate
19 jam lalu
The United States has announced a new import tariff on China, raising it to 245 percent in retaliation, according to the White House on Tuesday night, April 15, 2025.
Why Did Xi Jinping Skip Indonesia on His Southeast Asia Visit? CSIS Explains
20 jam lalu
The three countries visited by Xi Jinping were Malaysia, Vietnam, and Cambodia. Indonesia was not included in the list.
Today's Top 3 News: Trump's Tariffs Pose New Challenge, Says Indonesian Police Chief
21 jam lalu
Here is the list of the top 3 news on Tempo English today.
Rupiah Weakens to Rp16,837 per USD, Projected to Slip Further on Monday
22 jam lalu
On the next Monday's trade, the rupiah currency is predicted to close weaker in the range of Rp 16,830-16,890.
5 Differences Between Antam and UBS Gold: What Beginner Investors Should Know
22 jam lalu
There are several differences between Antam and UBS gold that beginner investors need to understand amid the precious metal investment trend. What are they?
