Gold May Hit Rp3 Million Price Amid Global Volatility

JAKARTA, Jakartaweekly.com – Global gold prices are expected to trade in a volatile range over the coming week amid rising geopolitical tensions and a stronger U.S. dollar.

Commodity analyst Ibrahim Assuaibi said gold, which previously closed at around $4,671 per troy ounce, may face both downward correction and upward movement in the short term.

In a bearish scenario, prices are seen falling to $4,543 per troy ounce. If pressure persists, the precious metal could slide further to $4,358.

Domestically, bullion prices are projected to ease to between Rp2,827,000 and Rp2,780,000 per gram.

On the upside, gold may climb to its first resistance level at $4,878 per troy ounce, with further gains potentially pushing prices to $5,080.

“This opens the possibility for gold to break a new psychological level,” he said in a statement on Sunday, April 5, 2026.

In the local market, such a move could pave the way for bullion prices to surpass the Rp3,000,000 per gram psychological threshold.

According to Ibrahim, gold price movements remain highly sensitive to global geopolitical developments, particularly escalating tensions in the Middle East and the Russia-Ukraine conflict, which continue to drive safe-haven demand.

U.S. economic policy, including the direction of interest rates and domestic political dynamics, is also a key factor influencing gold price volatility.

He added that global central banks may use any price correction to increase their gold reserves, a move that could help support prices over the medium term.