Will Gold Prices Reach Rp2.7 Million Next Week?

TEMPO.CO, Jakarta - According to Ibrahim Assuaibi, the director of PT Traze Andalan Futures, gold prices will likely reach Rp2.6-2.7 million per gram next Monday. The first resistance level is at Rp2.6 million per gram, while the second resistance level is at Rp2.7 million per gram, he said in an audio statement on Saturday, September 5, 2026.

At present, the price of gold stands at Rp2,634,000 per gram. Should the gold price correct next week, Ibrahim anticipates it to fall between Rp2.5 million and Rp2.6 million per gram.

Regarding the global gold price, Ibrahim estimates it will hover between US$4,276 and US$4,393 per troy ounce if it corrects. Should the price rise, he predicts the global gold price to be between US$4,518 and US$4,668 per troy ounce.

Besides gold prices, Ibrahim also anticipates the dollar index to reach 100. He expects the dollar index to sit between 98.30 and 100.20 next week. As for crude oil prices, Ibrahim predicts they will be between US$82.50 and US$98.70 per barrel.

Ibrahim identifies two primary factors influencing the fluctuation of gold, oil, and the dollar index. The first factor is the geopolitical situation stemming from the ongoing conflict between the United States and Iran. This situation has driven the surge in oil prices, causing gasoline prices in the United States to soar to US$5.85 per gallon. As a result, energy price hikes may sustain high inflation, compelling the U.S. central bank to maintain high interest rates.

Moreover, U.S. politics and policies also impact the movement of gold prices and the dollar index. Ibrahim claims that despite U.S. President Donald Trump's persistent efforts to influence the Federal Reserve by lowering interest rates, inflation and robust U.S. labor data have heightened expectations that the Fed will raise interest rates by 25 basis points on September 16.

Furthermore, Ibrahim notes that economic surveys indicate inflation expectations have increased from 52 percent to approximately 58 percent. He suggests that the difference in interests between Trump and the Fed could result in a political issue in the U.S. and affect gold price trends.