Five Key Factors Set to Move Gold Prices Next Week

TEMPO.CO, Jakarta - Gold prices are predicted to fluctuate next week. Antam's gold price on Sunday, May 3, 2026, was recorded at Rp2,796,000 per gram. Meanwhile, world gold was trading above US$4,600 per troy ounce at the end of the week.

Quoting Trading Economics, the price of gold has been volatile over the past week. The highest price was US$4,690 per troy ounce on April 28, 2026. On the same day, Precious Metals reached the weekly high price of Rp2,814,000 per gram.

Director of PT Traze Andalan Futures, Ibrahim Assuaibi, stated that if the world gold price falls next week, it will likely reach a low of between US$4,389 and US$4,520.

Meanwhile, if the gold price drops, Precious Metals will reach Rp2,750,000- 2,786,000 per gram. "So, there is a high probability that next week Precious Metals will be traded close to Rp2,750,000 per gram," he said in an official statement on Sunday, May 3, 2026.

However, if the price of this commodity creeps up, the world gold is likely to reach US$4,702-4,851 per troy ounce. Meanwhile, Antam gold could reach Rp2,886,000-2,900,000 per gram.

Ibrahim explained that there are five factors affecting the movement of world gold prices. The first and largest cause is geopolitical issues in the Middle East.

The next is the political situation in the United States. The third factor is the trade war. Fourth, the central bank policy, and finally, the issue of global supply and demand.

The war in the Middle East between Iran and the U.S. is escalating, with a strong possibility of a long war, as revealed by the Iranian Revolutionary Guard. U.S. President Donald Trump himself is considering using hypersonic missiles to suppress the Iranian military.

On the one hand, the Israeli military is still aggressively attacking Southern Lebanon, targeting infrastructure and Hezbollah positions. This condition has the potential to cause gold prices to soar.

However, this situation has caused the world oil price to continue rising. If that happens, global central banks may raise their benchmark interest rates. In that case, world gold prices could adjust due to shifts in investor behavior.

In terms of supply and demand, amid this corrected price, banks, global investors, and the public are likely to hoard relatively cheaper gold. "Therefore, in the medium and long term, the price of Precious Metals is still expected to rise," said Ibrahim.

Read: How the Iran War Is Hurting Travelers, Airline Industry

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