Gold Futures Slip

 

Gold Futures Trade Lower During Asian Session

Gold futures moved lower during Asian trading on Friday as investors remained cautious amid ongoing market uncertainty and shifting expectations surrounding global economic conditions.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery declined 0.35% to trade at $4,528.37 per troy ounce at the time of writing.

The precious metal previously touched an intraday low during the session. Analysts expect gold to find technical support near $4,455.00 per ounce, while resistance is seen around $4,593.20.

Meanwhile, the U.S. Dollar Index Futures, which measures the greenback against a basket of six major currencies, edged up 0.02% to 99.18, adding pressure to gold prices.

In other metals trading on Comex, silver futures for July delivery slipped 0.31% to $76.79 per troy ounce. Copper futures for July delivery, however, gained 0.39% to trade at $6.37 per pound, supported by improving industrial demand sentiment.

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Gold Under Pressure

Gold Prices Hold Near Late-March Lows as Hawkish Fed Bets and Geopolitical Tensions Boost USD

Gold prices remained under pressure during the Asian trading session, hovering around the $4,470 region after touching their lowest level since March 30 earlier on Wednesday. The precious metal continues to struggle amid renewed strength in the US Dollar, as investors remain skeptical about the prospects of a lasting US-Iran peace agreement. Persistent inflation concerns and expectations of a more hawkish Federal Reserve are also helping the Greenback maintain its recent rally near a six-week high, weighing heavily on bullion prices.

From a technical perspective, sustained trading below the key psychological $4,500 level could act as a fresh bearish trigger and increase the likelihood of further downside movement. Momentum indicators are also weakening, with the Relative Strength Index (RSI) holding in the mid-30s and the Moving Average Convergence Divergence (MACD) remaining in negative territory.

Despite the bearish momentum, gold prices continue to find support near the long-term trendline represented by the 200-day Simple Moving Average (SMA) around $4,363.73. A decisive break below this critical support level could open the door for a deeper correction. On the other hand, holding above the 200-day SMA may allow XAU/USD to consolidate within its broader uptrend, even as short-term momentum remains weak.

US President Donald Trump stated on Tuesday that the United States could potentially launch another strike against Iran if negotiations fail. Trump revealed that he had come within an hour of authorizing military action before delaying the decision following requests from three Gulf leaders. Meanwhile, Vice President JD Vance noted that both Washington and Tehran had made significant progress in ongoing talks and expressed that neither side wanted to see a renewed military campaign.

However, doubts surrounding a long-term diplomatic solution to the Iran conflict continue to persist due to major disagreements over Tehran’s nuclear program and the strategic Strait of Hormuz. This ongoing uncertainty continues to support the US Dollar’s status as a safe-haven reserve currency, creating additional headwinds for gold prices.

At the same time, tensions linked to the US-Iran standoff have kept crude oil prices elevated near monthly highs, fueling inflation concerns and strengthening speculation that the Federal Reserve could maintain higher interest rates for longer. According to the CME Group FedWatch Tool, traders are now pricing in more than a 55% probability that the Fed could raise interest rates by at least 25 basis points in 2026.

This outlook was reinforced by comments from Philadelphia Fed President Anna Paulson, who suggested that additional rate hikes could become appropriate if economic growth exceeds expectations or inflation risks intensify. Rising US Treasury yields have further strengthened the dollar, adding more pressure on non-yielding assets such as gold.

Still, USD bulls appear cautious ahead of the release of the upcoming FOMC meeting minutes during the North American session, which could provide fresh clues regarding the Federal Reserve’s future policy path. In addition, further developments surrounding the Middle East crisis may influence demand for safe-haven assets like gold.

Nevertheless, the broader fundamental backdrop continues to favor the US Dollar, suggesting that the path of least resistance for gold prices remains tilted to the downside. Any short-term recovery attempts are therefore likely to face selling pressure and may struggle to gain sustained momentum.

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Gold Prices Weaken

 

Gold Prices Slip as Stalled US-Iran Talks and Fed Rate Hike Bets Boost US Dollar

Gold prices came under renewed selling pressure after climbing toward the $4,590 region during the Asian trading session, halting the previous day’s modest rebound from the lowest level since March 30. Despite renewed hopes for a potential US-Iran peace agreement, investors remain cautious amid major disagreements over Tehran’s nuclear program and the Strait of Hormuz. At the same time, hawkish expectations surrounding the US Federal Reserve continue to strengthen the US Dollar, limiting upside momentum for non-yielding bullion.

From a technical perspective, gold remains below the 100-hour Simple Moving Average (SMA), keeping the short-term bearish outlook intact despite the recent recovery attempt. In addition, the Moving Average Convergence Divergence (MACD) indicator stays in positive territory, although its latest reading of 3.32 suggests weakening bullish momentum. Meanwhile, the Relative Strength Index (RSI) near 51.7 reflects moderate buying pressure rather than a strong bullish trend.

This setup suggests traders may wait for a confirmed break below the key psychological level of $4,500 and further selling beneath the overnight swing low near $4,480 before anticipating deeper losses. On the upside, immediate resistance is seen at the 100-hour SMA around $4,625.58. A sustained move above this barrier would be required to ease the current bearish bias and pave the way for a stronger recovery in gold prices.

US-Iran Tensions Continue to Drive Market Sentiment

US President Donald Trump stated on Monday that he postponed a planned strike on Iran following requests from Qatar, Saudi Arabia, and the United Arab Emirates. Trump also noted that formal negotiations are not currently underway, fueling cautious optimism over a diplomatic agreement that could eventually end the long-running conflict involving Iran.

However, market reaction has remained limited due to mixed geopolitical signals. Iranian President Masoud Pezeshkian responded to Trump’s warning that “time is running out” by insisting Iran would not surrender to external pressure. He added that Tehran entered talks with dignity, authority, and a commitment to protecting national rights.

On the other hand, Trump emphasized that he had instructed the US military to remain fully prepared for a large-scale strike against Iran if negotiations fail. These ongoing geopolitical risks continue to support the US Dollar’s safe-haven appeal.

Hawkish Fed Expectations Weigh on Gold Outlook

Meanwhile, financial markets have largely ruled out the possibility of Federal Reserve rate cuts for the remainder of 2026. Instead, traders are increasingly pricing in at least one interest rate hike before year-end as concerns over rising energy and consumer inflation intensify.

According to CME Group’s FedWatch Tool, markets are assigning nearly a 40% probability that the Federal Reserve will raise interest rates by 25 basis points during its December policy meeting. In addition, inflation worries and fiscal concerns have kept US 30-year Treasury yields near their highest levels since 2023, providing another supportive factor for the Greenback while reducing demand for gold.

Still, traders remain cautious ahead of the upcoming FOMC Minutes release on Wednesday, which could provide fresh insights into the Federal Reserve’s future monetary policy path and influence the direction of the XAU/USD pair.

Gold Outlook Remains Bearish Amid Stronger US Dollar

Looking ahead, market participants will continue monitoring developments surrounding the Middle East crisis, as any escalation could inject fresh volatility into global financial markets and revive safe-haven demand for gold.

Nevertheless, the broader fundamental backdrop currently favors bearish traders, suggesting that the path of least resistance for gold prices remains to the downside.

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Gold Yield Pressure

 

Gold Prices Hit 1.5-Month Low as Rising Bond Yields Pressure Market

Gold prices fell to their lowest level in one and a half months during Asian trading on Monday, as surging global bond yields and escalating tensions between the United States and Iran weighed heavily on the precious metal market.

Spot gold declined 1.3% to $4,483.67 per ounce at 07:44 GMT, hovering near its weakest level since late March. Meanwhile, gold futures dropped 1.7% to $4,484.82 per ounce.

The decline in gold prices comes amid a sharp rise in government bond yields across major economies, as investors grow increasingly concerned about inflationary pressures fueled by the prolonged Middle East conflict.

The benchmark 10-year U.S. Treasury yield climbed to a one-month high, while Japan’s 10-year government bond yield surged to its highest level in 29 years on Monday.

Bond yields have risen sharply due to growing speculation that energy-driven inflation linked to the Iran conflict could force central banks worldwide to maintain higher interest rates and adopt a more hawkish monetary policy stance.

Higher interest rates typically reduce the appeal of non-yielding assets such as gold, as they increase the opportunity cost of holding the precious metal.

The U.S. dollar also strengthened on these expectations, adding further pressure to the broader metals market. Spot silver fell 1.9% to $74.5840 per ounce, while spot platinum slipped 0.3% to $1,972.05 per ounce.

Geopolitical tensions between Washington and Tehran remained elevated after President Donald Trump warned that “time is running out” for Iran to accept a peace agreement.

Reports also suggested that the United States and Israel are considering additional military actions against Iran, particularly as negotiations surrounding a potential peace deal continue to show limited progress.

Trump’s recent summit discussions in China also failed to deliver any significant breakthrough regarding the Iran issue.

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Gold Futures Fall

 

Gold Futures Decline During Asian Trading Session

Gold futures traded lower during the Asian session on Friday, pressured by a stronger US dollar and weaker sentiment across the commodities market.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at USD4,588.97 per troy ounce at the time of writing, down 2.06%.

The precious metal previously touched an intraday low during the session. Analysts expect gold to find support at USD4,584.95, while resistance is projected near USD4,783.40.

Meanwhile, the US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, rose 0.30% to USD99.02.

In other metals trading on Comex, silver futures for July delivery plunged 5.52% to USD80.62 per troy ounce. Copper futures for July delivery also weakened, falling 2.84% to USD6.39 per pound.

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Indonesia Gold Surge

Indonesia Gold Demand Surges 47% to 23.6 Tons in Q1 2026 Amid Rising Safe-Haven Interest

The World Gold Council (WGC) reported a sharp increase in gold demand in Indonesia during the first quarter of 2026, driven by growing investor interest in gold as a safe-haven asset.

According to Shaokai Fan, retail investors worldwide have been attracted by strong gold price momentum and the metal’s appeal as a hedge against economic uncertainty. This trend pushed global demand for gold bars and coins up 42% year-on-year (YoY) to 474 tons in Q1 2026.

China recorded the largest jump, with gold demand soaring 67% YoY to a record 207 tons, far exceeding the previous quarterly high of 155 tons set in Q2 2013.

Other Asian markets, including India, South Korea, and Japan, also posted significant growth in gold bar and coin purchases. The rising demand reflects an ongoing structural shift in the global gold market, supported further by stronger demand in the United States and Europe, where purchases increased 14% and 50%, respectively.

“In Indonesia, demand for gold bars and coins surged 47% annually to 23.6 tons. This increase reflects the global trend where gold’s status as a safe-haven asset attracts investors concerned about economic uncertainty and inflation,” Shaokai said during a press conference on Wednesday (May 13, 2026).

Shaokai explained that historically, gold has proven to be one of the most reliable crisis hedging instruments for Indonesian investors. During the 1997–1998 Asian financial crisis, gold helped preserve purchasing power as the rupiah sharply depreciated. Similar patterns have repeatedly emerged during periods of currency weakness and market stress.

The WGC also noted that in 2025, gold outperformed most domestic and global equities, as well as rupiah-denominated bonds. In Q1 2026 alone, gold prices climbed 14% in rupiah terms, while Indonesia’s domestic stock market corrected by 13%.

Beyond crisis periods, gold has continued to deliver stable long-term returns, averaging approximately 15% annual growth in rupiah terms over the past two decades.

“WGC analysis shows that allocating just 2.5% of an Indonesian investor’s portfolio to gold can improve portfolio quality by reducing concentration risk and strengthening diversification,” Shaokai added.

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Gold Meeting Focus

Gold Eyes Trump-Xi Meeting Amid India’s Import Restrictions

Gold prices attempted to extend their previous sharp pullback from a three-week high of US$4,774 during Wednesday’s Asian trading session, as markets leaned toward profit-taking ahead of the highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping.

On the daily chart, XAU/USD traded at $4,692.51, maintaining a mildly bearish short-term tone while hovering slightly above the 21-day Simple Moving Average (SMA) near $4,688 and remaining capped below the 50-day SMA around $4,749. This positioning keeps spot gold under a concentrated medium-term resistance zone, with the longer-term 100-day SMA near $4,788 reinforcing overhead supply pressure. Meanwhile, the 14-day Relative Strength Index (RSI), holding close to the neutral 50 level, signals only moderate directional conviction for now.

On the upside, immediate resistance is seen at the 50-day SMA near $4,749, followed by the 100-day SMA around $4,788 and a broader descending trendline that continues to weigh on rallies. On the downside, initial support comes from the 21-day SMA just below the market near $4,689, while stronger support is located around the 200-day SMA in the $4,335 region, where long-term buyers could attempt to regain control if the current consolidation breaks lower.

Recent weakness in gold prices has been driven by renewed safe-haven demand for the U.S. Dollar alongside rising U.S. Treasury yields, fueled by speculation that the Federal Reserve may keep interest rates elevated due to persistent inflation pressures.

The Greenback consolidated its gains after hotter-than-expected U.S. consumer inflation data, while also benefiting from fading optimism surrounding a potential U.S.-Iran peace agreement.

According to Reuters, the U.S. Consumer Price Index (CPI) rose 3.8% in the 12 months through April, marking the largest year-over-year increase since May 2023, as oil-price shocks linked to tensions with Iran pushed inflation higher.

Gold also faced additional pressure from India, one of the world’s largest gold importers. Indian Prime Minister Narendra Modi on Sunday urged citizens to avoid buying gold for one year in an effort to protect the country’s foreign exchange reserves.

In addition, the Indian government announced on Wednesday that it had increased import duties on gold and silver to 15% from 6% to ease pressure on foreign currency reserves.

Traders also remained cautious ahead of the upcoming Trump-Xi meeting scheduled for this weekend, particularly after Trump stated that trade discussions would take priority over Iran-related issues during the summit with Xi.

Looking ahead, the U.S. Producer Price Index (PPI) data due later in the North American session could provide fresh trading momentum for gold markets.

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Gold Futures Lower

Gold Futures Edge Lower During Asian Trading Session

Gold futures traded slightly lower during Tuesday’s Asian session, reflecting cautious market sentiment as investors monitored movements in the US dollar and broader commodity markets.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at USD 4,723.00 per troy ounce at the time of writing, down 0.12% on the day.

Earlier in the session, the precious metal touched an intraday low before stabilizing near current levels. Market analysts expect gold to find immediate support at USD 4,655.59, while resistance is projected around USD 4,783.25.

Meanwhile, the US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, climbed 0.22% to USD 98.04, adding pressure to gold prices.

In other metals trading on Comex, silver futures for July delivery declined 0.60% to USD 86.46 per troy ounce. Copper futures for July delivery, however, edged up 0.08% to USD 6.49 per pound.

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Jewelry Stocks Plunge

Indian Jewelry Stocks Slide After Modi Urges Citizens to Delay Gold Purchases

Indian jewelry retail stocks fell sharply on Monday after Prime Minister Narendra Modi urged citizens to avoid buying gold for the next year in an effort to help protect the country’s foreign exchange reserves.

Major jewelry companies, including Titan, Senco Gold, and Kalyan Jewellers, saw their shares decline between 6% and 8% following the announcement, reflecting investor concerns over potential weakening demand in India’s gold market.

Modi delivered the statement on Sunday as part of a broader set of economic conservation measures aimed at reducing pressure on the nation’s economy. The initiatives included fuel-saving efforts, expanding remote work arrangements, and limiting travel and imports to preserve financial stability.

The appeal comes amid rising geopolitical tensions linked to the Iran conflict, which has pushed global oil prices higher and increased pressure on India’s balance of payments and the Indian rupee.

India remains one of the world’s largest gold consumers, making any policy signals or public appeals related to gold demand highly influential for the country’s jewelry sector and financial markets.

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Gold Holds Strong

Gold Holds Recovery Above $4,700 as Focus Shifts to US NFP Data

Gold maintained its recovery momentum above the $4,700 level during the European session on Friday. Despite renewed tensions in the Strait of Hormuz, investors remained optimistic about the possibility of a US-Iran peace agreement. This optimism triggered another decline in Crude Oil prices, easing inflation concerns and reducing expectations of a more hawkish stance from the US Federal Reserve. As a result, the US Dollar’s upside remained limited, providing key support for bullion prices.

The XAU/USD pair continues to show a strong bullish bias as it trades above the 200-period Simple Moving Average (SMA) and stays above the 61.8% Fibonacci retracement level of the latest upward move. In addition, momentum indicators remain supportive of further gains. The Relative Strength Index (RSI) stands at 64.24, remaining in positive territory without entering deeply overbought conditions, while the Moving Average Convergence Divergence (MACD) (12, 26, 9) posts a positive reading near 6.13. This suggests bullish momentum is still intact, although less aggressive compared to the previous rally phase.

On the downside, the 23.6% Fibonacci retracement level at $4,703.51 has turned into immediate support, followed by the 200-period SMA at $4,665.16. Deeper support levels are seen at $4,587.31 (38.2%) and $4,493.39 (50.0%) should a broader correction occur. On the upside, the next significant resistance stands near the swing anchor at $4,891.35. As long as Gold prices remain above the $4,700 area, any pullback is likely to be viewed as corrective within the ongoing uptrend.

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Gold Futures Rise

 

Gold Futures Edge Higher During Asian Trading Session

Gold futures traded higher during the Asian session on Thursday, supported by steady investor demand and a softer US Dollar.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at USD 4,703.64 per troy ounce at the time of writing, up 0.20% on the day.

The precious metal previously touched an intraday high during the session, with analysts closely watching key technical levels. Gold is expected to find support at USD 4,510.10, while resistance is seen near USD 4,733.86.

Meanwhile, the US Dollar Index Futures, which measures the greenback against a basket of six major currencies, slipped 0.01% to trade at USD 97.89, providing additional support for bullion prices.

In other metals trading on Comex, silver futures for July delivery climbed 1.06% to USD 78.12 per troy ounce. Copper futures for July delivery also moved slightly higher, gaining 0.02% to trade at USD 6.19 per pound.

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Gold Prices Rebound

 

Gold Prices Rebound as Analysts Warn of Global Interest Rate Pressure

After trending downward over the past month, global gold prices are now extending their gains in Wednesday’s (May 6) trading session, supported by easing geopolitical tensions in the Middle East that have also pressured energy prices and inflation concerns.

According to Bloomberg, as of 12:48 PM WIB on Wednesday (May 6, 2026), spot gold stood at US$4,651.02 per troy ounce, up 2.06% from the previous day. Since the beginning of the year, spot gold has risen 7.68%.

In line with global gains, certified gold bullion prices at Logam Mulia PT Aneka Tambang (ANTM) increased by Rp30,000 per gram, from Rp2,760,000 to Rp2,790,000 per gram.

This uptick comes after signs of de-escalation in the Middle East conflict. U.S. Defense Secretary Pete Hegseth stated that the ceasefire, which has lasted nearly a month, remains intact.

Similarly, U.S. Secretary of State Marco Rubio confirmed that offensive operations have ended. The U.S. government is now shifting its focus to securing shipping lanes in the Strait of Hormuz. Meanwhile, former U.S. President Donald Trump also announced a temporary pause in efforts to assist affected vessels in the region.

Looking back, gold prices had weakened over the past month, even falling to US$4,516 per troy ounce on Monday morning (May 5).

Sutopo Widodo, President Commissioner of HFX International Berjangka, explained that the recent decline in gold prices was driven by a strong negative correlation with the surge in U.S. 10-year Treasury yields and the strengthening U.S. dollar.

Although tensions in the Strait of Hormuz typically boost safe-haven demand, the spike in oil prices—reaching US$114 per barrel—created new inflation expectations, prompting central banks to maintain higher interest rates for longer.

“This condition increases the opportunity cost of holding non-yielding assets like gold, leading investors to shift toward more liquid and profitable short-term instruments,” Sutopo told Kontan on Tuesday (May 5, 2026).

From a technical perspective, Sutopo noted that the current gold rally is undergoing a fairly deep secondary correction phase after reaching its peak in February. The worst-case scenario this year could see spot gold testing its key support level around US$4,100, particularly if inflation remains persistent and the Federal Reserve implements additional rate hikes.

For Antam gold prices, the global weakness has been gradually absorbed in the domestic market, with potential downside toward Rp2,500,000 – Rp2,600,000 per gram if negative global sentiment continues without significant rupiah depreciation.

Therefore, Sutopo recommends that investors reassess their investment horizon.

“If your focus is long-term, holding positions remains relevant as a hedge against geopolitical risks that have not fully subsided,” he added.

However, for investors looking to enter the market, a gradual accumulation strategy (buy on weakness) is advised to achieve a more competitive average price amid high volatility.

He also noted that cut-loss strategies are more suitable for short-term traders, as gold prices in the remainder of 2026 are expected to move in a consolidation range of US$4,300 – US$4,800, pending clarity on global monetary policy.

Meanwhile, Antam gold prices are projected to move within Rp2,700,000 – Rp2,800,000 per gram, depending on rupiah exchange rate fluctuations.

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Gold Prices Steady

Global Gold Prices Hold Near $4,528 on Tuesday Morning as Markets Watch Middle East Risks

Global gold prices traded relatively steady on Tuesday morning (May 5, 2026), as investors closely monitored the economic impact of escalating tensions in the Middle East and the stalled peace talks between the United States and Iran.

According to Reuters, spot gold edged up 0.2% to $4,528.99 per ounce at 00:59 GMT. The precious metal had previously dropped more than 2%, hitting its lowest level since March 31 during the prior trading session.

Meanwhile, U.S. gold futures for June delivery rose 0.1% to $4,538.20 per ounce, signaling cautious optimism among traders.

Geopolitical tensions intensified after the United States and Iran launched fresh attacks in the Gulf region, both aiming to assert control over the strategic Strait of Hormuz. The renewed conflict has shaken an already fragile ceasefire.

The U.S. military reported destroying six Iranian small vessels and intercepting cruise missiles and drones, as Washington continues efforts to secure and reopen key shipping lanes in the Strait of Hormuz.

On the energy front, U.S. crude oil prices fell more than 1%, as markets assessed the limited impact of Iran’s attacks on vessels in the المنطقة. Sentiment was also supported by reports that a U.S.-flagged ship operated by Maersk successfully crossed the strait under U.S. military escort.

From a monetary policy perspective, New York Federal Reserve President John Williams stated that current policy remains sufficiently strong to handle economic uncertainty stemming from the conflict. He also signaled the possibility of interest rate cuts once inflationary pressures ease.

However, U.S. President Donald Trump reiterated that interest rates are still too high, urging for more accommodative monetary policy.

Meanwhile, holdings in SPDR Gold Trust—the world’s largest gold-backed ETF—remained unchanged at 1,040.66 metric tons, reflecting a neutral stance among institutional investors.

Other precious metals saw modest gains, with silver rising 0.1% to $72.76 per ounce, platinum up 0.5% to $1,954.80, and palladium climbing 0.8% to $1,491.84 per ounce.

Overall, gold price movements currently reflect a “wait-and-see” approach among market participants amid ongoing geopolitical uncertainty and evolving global monetary policy expectations. 

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Antam Gold Drops

 

Antam Gold Prices Slip Again, Start of Week at Rp2.795.000 per Gram

Antam gold prices declined slightly at the start of the week, with bullion from PT Aneka Tambang Tbk (Antam) recorded lower on Monday, May 4, 2026. According to official data from Logam Mulia, the price of Antam gold dropped by Rp1,000 to Rp2.795.000 per gram.

Despite the modest dip, current gold prices remain well below the all-time high of Rp3.168.000 per gram reached on January 29, 2026. This indicates that the precious metal is still undergoing a consolidation phase after its previous rally.

The buyback price also experienced a similar correction, decreasing by Rp1,000 to Rp2.585.000 per gram from the previous Rp2.586.000. This reflects a consistent downward adjustment across both selling and repurchase values.

Price declines were seen across multiple denominations. The 0.5-gram size fell to Rp1.447.500 from Rp1.448.000. Meanwhile, the 2-gram bar dropped to Rp5.530.000 from Rp5.532.000, and the 5-gram size slipped to Rp13.750.000 from Rp13.755.000.

For investors looking at larger sizes, Antam gold is also available in 10-gram and 25-gram bars, priced at Rp27.445.000 and Rp68.487.000, respectively.

Latest Antam Gold Price List – May 4, 2026

• 0.5 gram: Rp1.447.500
• 1 gram: Rp2.795.000
• 2 gram: Rp5.530.000
• 5 gram: Rp13.750.000
• 10 gram: Rp27.445.000
• 25 gram: Rp68.487.000
• 50 gram: Rp136.895.000
• 100 gram: Rp273.712.000
• 250 gram: Rp684.015.000
• 500 gram: Rp1.367.820.000
• 1,000 gram: Rp2.735.600.000

This latest update highlights ongoing fluctuations in gold prices, making it essential for investors to monitor market trends closely before making decisions.

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Gold Below $4600

 

Gold Price Falls Below $4,600 After Thursday Rally Amid Strong USD and Fed Outlook

Gold prices slipped back below the $4,600 level after a brief rally on Thursday, facing renewed bearish pressure as the US Dollar (USD) remains resilient. Ongoing uncertainty surrounding US–Iran tensions, combined with speculation over Japan’s possible forex intervention, has weighed on the XAU/USD pair.

During the previous session, gold managed to break above $4,600 and the 100-hour Simple Moving Average (SMA), triggering short-covering activity in intraday trading. However, the upward move stalled near $4,650, aligning with the 38.2% Fibonacci retracement level from the April swing high decline. Technical indicators show mixed signals: the Relative Strength Index (RSI) stands at 58.33, indicating moderate bullish momentum without entering overbought territory, while the Moving Average Convergence Divergence (MACD) remains slightly negative. This suggests that bullish attempts are still tentative despite prices holding above short-term trend levels.

A sustained breakout above the 38.2% Fibonacci level at $4,651.19 is needed to confirm further upside potential. If bullish momentum continues, the next resistance level lies at the 50% retracement mark near $4,696.20. On the downside, immediate support is seen at the 100-hour SMA around $4,623.78. A break below this level could expose the 23.6% Fibonacci retracement at $4,595.49, with a deeper decline potentially targeting the monthly low near $4,505.46.

Fundamental Outlook: Fed Policy and Geopolitics Weigh on Gold

Gold remains under pressure as the Federal Reserve maintains a hawkish stance, supporting the US Dollar and limiting upside for the non-yielding metal. The precious metal is currently on track to post losses for a second consecutive week.

Geopolitical tensions also continue to influence market sentiment. US President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and lift the blockade, instead maintaining a firm stance on nuclear negotiations. Reports suggesting potential new US military action against Iran have heightened fears of further escalation, reinforcing the safe-haven appeal of the USD while capping gold’s gains.

Meanwhile, the Federal Reserve kept its benchmark interest rate unchanged at 3.50%–3.75% on Wednesday. Notably, the decision saw the highest level of dissent since 1992, with three policymakers opposing the current policy stance. Strong US economic data released Thursday further supports expectations that rates may remain elevated for longer.

According to the US Bureau of Economic Analysis, the Personal Consumption Expenditures (PCE) Price Index rose 0.7% month-over-month in March, with the annual rate climbing to 3.5% from 2.8% in February. Core PCE, which excludes food and energy, increased 3.2% year-over-year, up from 3.0% previously. Additionally, preliminary GDP data showed the US economy expanded at an annualized rate of 2.0% in Q1 2026, a sharp improvement from the revised 0.5% growth in Q4 2025.

Despite this, market expectations for at least one 25 basis point rate cut by the Fed in 2026 have risen to over 15%, up from just 1.3% a day earlier. This shift is preventing aggressive USD buying and helping limit further downside in gold prices.

Looking ahead, traders are closely watching upcoming US economic data releases, starting with the ISM Manufacturing PMI due Friday. At the same time, developments in the Middle East will remain a key driver of USD movement and overall gold market direction.

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Gold Market Volatility

 

Gold Prices Remain Volatile, Investors Advised to Use Gradual Accumulation Strategy

Gold prices continue to experience high volatility, prompting investors to be more selective in choosing investment strategies. This comes amid ongoing uncertainty surrounding the direction of the United States Federal Reserve’s monetary policy. Analysts suggest that a conservative approach combined with disciplined risk management is essential in navigating current market conditions.

According to Bloomberg data on Thursday (April 30, 2026) at 07:24 WIB, spot gold prices stood at US$4,560.59 per troy ounce, marking a 0.28% daily increase. However, on a weekly basis, gold prices have declined by 2.84%, reflecting ongoing market pressure.

President Commissioner of HFX International Berjangka, Sutopo Widodo, recommends that investors avoid aggressive speculation and instead focus on a gradual accumulation strategy, commonly known as dollar-cost averaging (DCA). He also emphasized the importance of waiting for market confirmation, both from technical indicators and central bank policy decisions.

“Investors should maintain liquidity and apply strong risk management to stay flexible and capitalize on opportunities once market trends become clearer,” Sutopo stated.

Similarly, Brahmantya Himawan, Analyst at PT Finex Bisnis Solusi Futures, believes the recent correction in gold prices presents an attractive entry point for medium- to long-term investors.

“For medium- to long-term investment, this correction offers a good opportunity for gradual accumulation, especially as gold remains a reliable hedge asset. However, in the short term, investors should wait for clearer direction following the FOMC decision due to persistent volatility,” he explained.

Brahmantya added that gold is currently influenced by two major factors: geopolitical tensions and a strengthening US dollar. As long as the Federal Reserve maintains a tight monetary policy and energy prices remain elevated, gold prices are likely to stay under pressure.

Meanwhile, Lukman Leong, Chief Analyst at Doo Financial Futures, sees opportunities for more active strategies among short-term investors. He suggests applying a range trading approach—buying at lower price levels and selling at higher ones.

“Short- and medium-term investors can take advantage of price fluctuations through range trading, while long-term investors should continue accumulating during price dips,” Lukman noted.

He further explained that gold remains under pressure in the short term, moves sideways in the medium term, but still maintains a bullish outlook in the long run.

In terms of asset selection, analysts agree that gold remains a primary choice for defensive investors. Silver, on the other hand, offers higher upside potential but comes with greater volatility.

Given the current market landscape, experts advise investors to align their strategies with their individual risk profiles and investment horizons while awaiting clearer signals from US central bank policies, which remain the key driver of market movements.

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Gold Outlook Stalled

 

Gold Outlook Remains Capped, Silver More Aggressive but Riskier

Gold prices are expected to stay range-bound in the short to medium term as the strong US dollar and persistent global uncertainty continue to weigh on the market.

According to Trading Economics data on Wednesday (April 29), gold prices fell 0.46% to US$4,575 per troy ounce. Meanwhile, silver slipped 0.21% to US$72.88 per troy ounce.

This decline extends the previous bearish trend, where gold dropped around 2% and silver plunged 3%, hitting their lowest levels since late March 2026.

Brahmantya Himawan, an analyst at PT Finex Bisnis Solusi Futures, said the pressure on gold is likely to persist as long as global inflation remains elevated and the US Federal Reserve has yet to signal monetary easing.

“As long as oil prices remain high due to geopolitical tensions and global energy distribution is still disrupted, inflationary pressure could persist. This may keep the Federal Reserve cautious about cutting interest rates,” he said.

These conditions are expected to support a stronger US dollar, ultimately limiting gold’s upside as a safe-haven asset.

On the other hand, silver is projected to show higher volatility compared to gold. In addition to safe-haven demand, silver also has strong industrial demand components. “If the global economy improves, silver could see more aggressive upside than gold, but with higher risk,” he added.

For May 2026, gold is projected to trade within the range of US$4,400 to US$4,500 per troy ounce. Meanwhile, silver is expected to move between US$66 and US$71 per troy ounce.

Both commodities are likely to remain in a sideways trend with high volatility, as investors await clearer signals on US interest rate policy and global geopolitical developments.

From a strategy perspective, investors are advised to remain selective. For medium- to long-term investors, the current price correction presents an opportunity for gradual accumulation, particularly in gold as a hedge.

However, in the short term, investors should wait for clearer market direction following the Federal Reserve’s policy decisions, given the ongoing high volatility.

He concluded that gold is currently at a crossroads between geopolitical risks and the strength of the US dollar.

“As long as the Fed maintains a hawkish stance and oil prices stay elevated, a sustained gold rally is unlikely to be smooth.”

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Gold Near $4600

Gold Price Slides Toward $4,600 as Middle East Uncertainty Weighs on Market Sentiment

Gold prices remain under bearish pressure, slipping toward the $4,600 level on Tuesday and marking a fresh three-week low. Ongoing uncertainty surrounding the second round of US–Iran peace negotiations has supported the US Dollar, drawing in buyers and putting additional pressure on the precious metal. However, expectations that the Federal Reserve may adopt a less hawkish stance could help limit further downside for non-yielding gold ahead of key central bank events.

From a technical perspective, gold recently failed to sustain gains above the 200-period Simple Moving Average (SMA) on the 4-hour chart. A decisive break below the $4,655 support zone would reinforce the bearish outlook. Meanwhile, the Relative Strength Index (RSI) hovers near 41, slightly below the midpoint, while the Moving Average Convergence Divergence (MACD) remains in negative territory with its signal line above the MACD line. These indicators suggest that downside momentum persists, though not yet at an aggressive pace.

On the upside, immediate resistance is seen at the 200-period SMA near $4,723. A sustained move above this level would be needed to ease selling pressure and open the door for a stronger recovery. Traders are also likely to watch for the formation of a new base or bullish signals from RSI and MACD before confirming a more durable bottom.

Geopolitical tensions continue to influence gold market dynamics. Hopes for diplomatic progress in resolving the Iran conflict have faded after US President Donald Trump canceled engagements involving key envoys. Iran has reportedly submitted a revised proposal to the US, excluding discussions of its nuclear program until the conflict ends and disputes over Gulf shipments are resolved. However, the proposal has been met with dissatisfaction, particularly due to its limited focus on nuclear issues. The ongoing stalemate, including tensions around the Strait of Hormuz, continues to support the US Dollar’s safe-haven appeal, weighing on gold prices.

That said, gains in the US Dollar may be capped by shifting expectations around Federal Reserve policy. According to the CME FedWatch Tool, markets are pricing in roughly a 35% chance of a rate cut by the end of the year. This could discourage aggressive bullish bets on the dollar and help stabilize gold prices ahead of the highly anticipated two-day FOMC meeting starting Tuesday.

Investors will closely monitor the post-meeting press conference, particularly comments from Federal Reserve Chair Jerome Powell, for clues on future monetary policy direction. In addition, any new developments in the Middle East crisis will remain a key driver of both USD strength and gold price movements.

Overall, the current fundamental backdrop appears to favor bearish sentiment in XAU/USD, increasing the likelihood of a breakdown from the short-term trading range that has persisted since the beginning of the month.

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Gold Prices Fall

Gold Prices Slip Monday Morning as US–Iran Talks Collapse

Gold prices declined in early Monday trading (April 27, 2026), pressured by geopolitical tensions after the cancellation of renewed peace talks between the United States and Iran.

As of 07:37 WIB, June 2026 gold futures on the Commodity Exchange fell 0.99% to $4,693.90 per troy ounce, down from $4,740.90 per troy ounce at last week’s close.

The drop comes as efforts to resume diplomatic negotiations between Washington and Tehran stalled, while energy flows through the Strait of Hormuz remain disrupted—raising concerns across global markets.

According to Bloomberg, U.S. President Donald Trump canceled a planned visit by his top envoy to Islamabad, which was intended to revive peace discussions with Iran. Meanwhile, Iranian officials stated they would not engage in negotiations under ongoing threats.

The continued disruption in energy supply due to the conflict has heightened inflation risks. This scenario increases the likelihood that central banks will maintain higher interest rates for longer—or even tighten further—creating headwinds for gold prices.

Since the conflict escalated in late February, gold has dropped approximately 11%, reflecting shifting market sentiment.

“Gold is currently in a technical gray area,” said Nicky Shiels, Head of Metals Strategy at MKS PAMP SA. She added that ongoing uncertainty over ceasefire developments has made gold behave more like a risk asset.

“With gold now showing a negative correlation to oil and a loose positive correlation to equities—while not serving as a reliable indicator for either—investors are reluctant to chase prices below the $5,000 level,” Shiels noted.

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Gold Rebound Outlook

 

Gold Prices Fall: Rebound Signals and Outlook Through End of 2026

Gold prices remain volatile in the short term, but the potential for a rebound is still intact as global monetary policy expectations begin to shift.

According to Trading Economics data on Friday (April 24, 2026, at 10:50 WIB), spot gold prices declined by 3.3% over the past week, falling to around $4,675 per troy ounce.

Commodity analyst and Traderindo.com founder Wahyu Laksono stated that gold is currently entering a recovery phase after experiencing a correction in mid-March 2026. From a short-term technical perspective (weekly timeframe), gold is showing early rebound signals with a tendency to test key resistance levels.

The nearest resistance is seen in the range of $4,900 to $5,300 per troy ounce, while support levels are located between $4,500 and $4,100.

“Technically, gold is in a recovery phase following a healthy correction in mid-March,” Wahyu said on Thursday (April 23, 2026).

Gold Price Outlook for Q2 2026

Heading into the second quarter of 2026, gold is المتوقع to move in a consolidative rebound pattern. Several external factors are expected to drive price movements, including easing geopolitical tensions in the Middle East and rising concerns over a global economic slowdown.

In addition, market participants are closely watching the direction of U.S. Federal Reserve policy. Wahyu noted that the central bank’s ability to maintain tight monetary policy is becoming increasingly limited, opening the door for potential easing in the near future.

For the April–June 2026 period, gold is projected to trade with resistance between $5,400 and $5,600, while support is expected in the range of $3,880 to $3,000.

Bullish Potential in the Second Half of 2026

Looking further ahead, gold is expected to turn more bullish in the second half of 2026. This outlook is driven by anticipated shifts in global monetary policy, particularly from the Federal Reserve, which is expected to begin cutting interest rates.

Lower interest rates typically act as a positive catalyst for gold, as they reduce the opportunity cost of holding non-yielding assets.

At the same time, risks of a global economic slowdown—triggered by persistent inflation and rising oil prices—could further support gold demand. Ongoing geopolitical uncertainty also adds to gold’s appeal as a safe-haven asset.

Moreover, continued gold purchases by central banks, especially China, are expected to provide strong long-term support for prices.

For the second half of 2026, gold is projected to test resistance levels between $5,000 and $6,000, with support seen in the range of $4,000 to $3,000.

Short-Term Weakness, Long-Term Opportunity

Despite the positive long-term outlook, short-term downside risks remain, particularly in Q2 2026. Wahyu emphasized that gold may still experience further weakness or form a bottom before resuming its upward trend.

“The potential for further downside remains in Q2, or at least a bottoming phase in the second half, which could serve as a launchpad for gold to reach new record highs,” he concluded.

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