August 10, 2025 | 06:06 pm
TEMPO.CO, Jakarta - The world gold price is projected to reach the level of US$3,460 per troy ounce in the upcoming week, Monday, August 11, 2025. "This prediction is supported by fundamental and technical analysis showing an upward trend in the price," said Commodity and Currency Analyst Ibrahim Assuaibi in a written statement on Sunday, August 10, 2025.
As for the gold price next week, it will fluctuate between the support level of $3,371 and the resistance level of $3,435 per troy ounce.
Ibrahim is optimistic that the world gold price in the second half of this year could reach US$3,600 per troy ounce. Meanwhile, Indonesia's precious metals are Rp2,150,000 per gram.
He revealed several global sentiments that will affect the movement of gold prices next week. One of them is the planned meeting between United States President Donald Trump and Russian President Vladimir Putin.
The two heads of state plan to meet on August 15 in Alaska to discuss efforts to end the war in Ukraine. Trump mentioned that the peace agreement would result in the transfer of several Ukrainian territories to Russia.
Ibrahim expressed concern that this meeting might not result in any agreement, which could lead to sanctions against Russia. This situation, Ibrahim said, occurs amid increasing trade tensions between the U.S. and Russian oil buyers.
On Wednesday, August 6, 2025, Trump increased reciprocal tariffs on India for buying oil from Russia. Trump explained that Russia's ongoing military action in Ukraine constituted a "national emergency." Therefore, according to Trump, it is necessary and appropriate to impose higher tariffs on India, the main consumer of Russian petroleum products.
Another sentiment affecting the gold price next week is the statement from Israeli Prime Minister Benjamin Netanyahu, who plans to take over the Gaza Strip. Netanyahu claimed that the territory would later be handed over to a non-Hamas civilian government.
Lastly, Ibrahim also highlighted the nomination of Stephen Mirae as the Governor of the Central Bank or the Federal Reserve (The Fed). Mirae is said to replace Adriana Kugler, who has just resigned from a strategic position at The Fed.
According to Ibrahim, this appointment triggers expectations for more dovish policies in the future, such as lower interest rates that could boost economic growth and oil demand.
Sita Planasari contributed to this article
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