Gold Price Expected to Surge Next Week: Expert Shares Why

TEMPO.CO, Jakarta - Gold price is expected to strengthen to Rp2,690,000 per gram for the next week, according to the director of PT Traze Andalan Futures, Ibrahim Assuaibi. "If the global gold strengthens at the second resistance at US$4,348 per troy ounce, then the gold will stand at Rp2,780,000 per gram," said Ibrahim on Sunday, July 5, 2026.

Meaning, the gold price next week is projected to stay on an upward trend since the closing of trading on Friday, July 3, at the level of Rp2,670,000 per gram.

If corrected, Ibrahim predicts that the gold price will fall to Rp2,650,000 per gram next week. "If corrected again, the second support is at US$4,000 per troy ounce, then the gold will be at Rp2,550,000 per gram," he said.

Based on his mapping, Ibrahim said there are three factors contributing to the gold price next week, including the geopolitical conditions in the Middle East.

As Iran and the United States signed an agreement to end the war that reopened the Hormuz waterway, the global oil experienced an excess supply from the original 100 million barrels per day to 103.1 million barrels per day. As a result, oil prices are on the decline, which could increase the price of gold.

The second contributing factor is the anticipated Fed's policy, which is expected to hold its benchmark rate as the continued decline of unemployment rates and the global oil prices will cause inflation to slide near 2 percent. 

The Federal Reserve policy, according to Ibrahim, is expected to send the gold prices to skyrocket to US$5,000 per troy ounce by the end of the year.

Meanwhile, on the side of supply and demand, Ibrahim explained, the Global Central Banking added 41 tons of gold bar purchases in May. China added about 10 tons in May, bringing the total to 2,331 tons. Uzbekistan also increased its stock to about 33 tons of gold bars, and Kazakhstan increased its gold stock to 361 tons.

Meaning, according to Ibrahim, the recent weakening of gold prices has become an opportunity for Global Central Banking to continue purchasing the commodity. Because, according to Ibrahim, they understand that the gold price will soar if the Strait of Hormuz is reopened and the global oil prices fall.

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