JAKARTA – Gold investors are preparing for potential price volatility next week after the precious metal is still influenced by global geopolitical developments and a shift in interest in safe haven assets.At the close of trading on Saturday, June 20, the world gold price was at US$ 4,155 per troy ounce. Meanwhile, Antam’s gold price was recorded at Rp. 2,668 million per gram.Gold market observer Ibrahim Assuaibi estimates that gold prices are still potentially subject to correction at the beginning of next week. If selling pressure increases, the world gold price is projected to move towards the first support level at US$ 4,088 per troy ounce.In line with this, Antam’s gold price is expected to fall to the range of IDR 2.648 million per gram.”For the second support at US$ 3,859 per ounce troy, then the precious metal at Rp. 2,550 million per gram,” said Ibrahim in his research, Sunday, June 21.However, the opportunity for gold prices to strengthen is still open if market sentiment supports the safe haven asset again. According to Ibrahim, the world’s first gold resistance level is in the range of US$ 4,243 per troy ounce.If the strengthening scenario occurs, Antam’s gold price is expected to rise to reach IDR 2.688 million per gram.”If it strengthens again, the second resistance is US$ 4,465 per ounce, while the precious metal is Rp. 2,790 million per gram,” he said.Market participants are also currently watching developments in the Middle East conflict, the negotiations between the United States and Iran, and the direction of global central bank interest rate policies that could potentially affect demand for gold as a hedging instrument. These factors are expected to remain the main determinants of the movement of world gold prices and Antam gold throughout next week.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language.
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