Gold Prices May Face Further Correction Amid Iran-Israel Tensions

TEMPO.CO, Jakarta - Currency analyst at Doo Financial Futures, Lukman Leong, projects that the world gold price still has the potential to correct or decrease, albeit limited. This is related to the current geopolitical tension and trade war.

According to Lukman, two main short-term factors are currently decisive in determining the direction of the world gold price, namely the development of the Iran-Israeli geopolitical situation and reciprocal tariffs from the United States. "Both are still full of uncertainty and could suppress the gold price if the situation improves," Lukman told Tempo, cited on Sunday, June 22, 2025.

According to him, at the moment, investors tend to take a wait-and-see approach. On the other hand, some choose to take advantage of the possibility of a U.S.-Iran nuclear deal and a reciprocal tariff agreement with the U.S. "Considering that the tariff postponement threshold is only a few weeks away, ending the first weekend of July," Lukman said.

With all the recent developments and potential corrections, Lukman mentioned that investors may add to their gold holdings. This is considering the long-term outlook for gold prices is still deemed unchanged, namely, it will still tend to rise.

However, he advises investors not to be too aggressive. "However, it is advisable to avoid being aggressive because the current correction is not yet significant. Taking a wait-and-see approach is also wise."

Today, the world gold price is around US$3,368 per troy ounce. In the near future, Lukman estimates that the world gold price will still range from US$3,300 to US$3,450 per troy ounce.

Regarding the potential for the world gold price to reach a new all-time high (ATH), he said this still depends on the dynamics in the coming weeks. Starting from the agreement on U.S. tariffs with its trading partner countries, to the escalation of Iran-Israel, is said to be a decisive factor.

"If there is no tariff agreement in early July and it is not postponed again, as well as the escalation of Iran-Israel, there is a high possibility that the gold price will reach ATH," Lukman said.

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