Gold and precious metals prices are forecast to continue moving moderately and tend to rise in the coming week. Analyst Ibrahim Assuaibi, specialising in currencies and commodities, projects gold price movements will be in the range of Rp 2.55–2.82 million per gram.
Technically, Ibrahim predicts global gold prices next week will be around 4,151 US dollars per troy ounce as a support level up to 4,493 US dollars per troy ounce as a resistance level. For Monday, the support level is likely to be at 4,279 US dollars per troy ounce, with a resistance level at 4,405 US dollars per troy ounce.
Precious metals closed at Rp 2.69 million per gram on Saturday, Ibrahim told reporters. In the coming week, precious metals will likely be traded at Rp 2.55 million per gram as support, with resistance at Rp 2.82 million per gram. On Monday, the support level is forecast at Rp 2.67 million per gram, and the resistance level at Rp 2.71 million per gram.
Ibrahim said there is a possibility that gold prices will strengthen, although rupiah appreciation will cause gains in precious metal prices to be somewhat limited. Meanwhile, global crude oil prices are projected to tend downwards in the coming week, in the range of 65.70 US dollars per barrel as a support level up to 83.30 US dollars per barrel. The US dollar index position is forecast to move around 98.80–100.50.
Fluctuations in gold prices are influenced by several factors, including geopolitical tensions. Ibrahim cited an agreement that is likely to be reached soon between Iran and Oman regarding the control of the Strait of Hormuz, as well as Iranian attacks on United Arab Emirates vessels in that region. Geopolitical conditions in the Middle East, including Russian attacks on Kyiv using long-range missiles, also influence the movement of global commodities.
Another factor is the interest rate policy of the US Federal Reserve. US labour data experienced a decline of 23,000 in July 2026, lower than the expected 85,000, Ibrahim said. This data suggests that the US Federal Reserve will maintain interest rate increases at its next meeting. According to analyst expectations that interest rate increases will decrease by 40 percent in September, oil prices could continue to fall below 60 US dollars per barrel, and will cause inflation in the US to decline.
There is hope that falling oil prices will cause global investors to shift their funds from the dollar and crude oil to gold as a safe haven, according to Ibrahim.
