TEMPO.CO, Jakarta - Ibrahim Assuaibi, Director of PT Traze Andalan Futures, predicts that the global gold price will rise sharply to around US$5,440 per troy ounce in trading on Monday, March 2, 2026. On Friday, February 27, 2026, the global gold price closed at US$5,278 per troy ounce.
Ibrahim said the price increase was the result of the escalation of conflict following the Israeli-US attack on Iran. He believes the war in the Middle East is likely to continue in the short and medium term. "Therefore, this will have a positive impact on the global gold price," Ibrahim said in a statement on Sunday, March 1, 2026.
According to Ibrahim, the global gold price is likely to reach US$5,500 next week. This increase will also impact the price of precious metals. Ibrahim said the price of precious metals could rise to Rp3.3 million to Rp3.4 million per gram. However, he also predicted that the rupiah would weaken due to the conflict.
Israel and the United States (US) attacked Iran on Saturday, February 28, 2026. In response to the attack, the Indonesian government, through the Ministry of Foreign Affairs, called on all parties involved to exercise restraint and prioritize dialogue and diplomacy.
The Ministry of Foreign Affairs also stated that Indonesia has offered to act as a dialogue facilitator. "If both parties agree, the Indonesian President is willing to travel to Tehran to mediate," the ministry said in a statement on Saturday, February 28, 2026.
Read: Antam Gold Prices Rise by Rp16,000 This Thursday Morning
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