Gold Under Pressure

 

Gold Prices Near Daily Lows as Strong USD Holds Firm Amid Hormuz Risks

Gold prices remained under pressure for a third consecutive session, staying below the key $4,800 level as a stronger US Dollar limited upside momentum. Despite ongoing diplomatic efforts to ease tensions in the Middle East, lingering friction between the United States and Iran—driven by continued US naval blockades of Iranian ports—continues to support the greenback’s safe-haven status and weigh on the precious metal.

From a technical perspective, gold’s failure to break above the 200-period Simple Moving Average (SMA) on the 4-hour chart signals caution for bullish traders. However, downside movement has so far found support near the 50% Fibonacci retracement of the March decline. This suggests that traders may wait for a decisive break below the $4,765 support zone before confirming further bearish momentum.

Momentum indicators remain mixed. The Relative Strength Index (RSI) is hovering near the neutral 50 level, while the Moving Average Convergence Divergence (MACD) continues to trend lower in negative territory. This combination indicates that sellers still hold a tactical advantage unless gold reclaims the key resistance at the 200-period SMA around $4,814. A sustained breakout above this level could open the door toward the stronger Fibonacci resistance at $4,912 (61.8% retracement), followed by potential targets at $5,130 and $5,409.

On the downside, immediate support lies at $4,759, aligned with the 50% retracement level. A break below this point could expose further declines toward $4,606 and $4,416, where buyers may step in to defend the broader uptrend structure.

Meanwhile, a 10-day ceasefire between Israel and Lebanon has raised hopes for a potential long-term peace agreement between the US and Iran. Former US President Donald Trump expressed optimism, stating that Iran is close to reaching a deal. According to the Wall Street Journal, Washington and Tehran have agreed in principle to resume negotiations, although no specific timeline or venue has been confirmed.

These developments have contributed to a more positive risk sentiment, while declining expectations of further interest rate hikes by the Federal Reserve have capped the US Dollar’s recovery from multi-week lows. This, in turn, has helped gold rebound from intraday lows around $4,768–$4,767.

Earlier in the week, US Producer Price Index (PPI) data eased inflation concerns linked to rising energy prices amid geopolitical tensions. Additionally, expectations of further de-escalation in the Middle East have kept crude oil prices subdued, reducing hawkish pressure on the Fed. Market participants are currently pricing in around a 30% chance of a rate cut by year-end, limiting further USD gains and providing some support for non-yielding assets like gold.

Looking ahead, the absence of major US economic data on Friday leaves the US Dollar sensitive to speeches from key Federal Open Market Committee (FOMC) members. However, investor focus will remain on the upcoming US-Iran peace talks, potentially scheduled for the weekend. Any new developments could drive volatility in financial markets and create trading opportunities in gold. Despite recent weakness, XAU/USD remains on track to post a modest gain for the third consecutive week.

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Gold Demand Rises

 Gold Prices Fluctuate as Investment Demand Continues to Rise

Gold prices have shown notable fluctuations since the beginning of 2026. Despite this volatility, gold remains a preferred investment asset among investors seeking stability and long-term value.

According to data from Trading Economics, global gold prices stood at approximately US$4,300 per troy ounce on January 2. Prices then surged to around US$5,400 per troy ounce by January 28. However, by March 23, 2026, gold retreated to about US$4,400 per troy ounce before rebounding to approximately US$4,800 per troy ounce on April 16, 2026.

Chikita Rosemarie, Public Relations Manager at PT Central Mega Kencana (CMK), stated that demand for gold and diamond jewelry remains strong despite ongoing global geopolitical uncertainties. The company, which manages brands such as The Palace, Frank & Co, Mondial, and Laku Emas, continues to see consistent interest from consumers in both physical and digital gold investments.

“Amid global geopolitical concerns, people tend to secure their assets. This drives consistent—and even increasing—demand for gold, jewelry, and digital gold,” Chikita said on Thursday (April 16, 2026).

She added that gold sales at The Palace recorded growth in the first quarter of 2026, meeting the company’s internal targets. Although specific growth figures were not disclosed, the upward trend reflects sustained consumer confidence in gold as a safe-haven asset.

“We remain committed to improving product accessibility, ensuring that more people can diversify their assets through gold ownership,” Chikita explained.

Looking ahead, The Palace plans to launch the “Semarak Pengundian Nasional The Palace 2026” program. This initiative aims to reward customers with prizes ranging from gold and diamond jewelry to motorcycles, while also enhancing customer engagement and accessibility to jewelry products.

In addition to physical gold, digital gold trading is gaining significant traction. Data from the Indonesia Commodity & Derivatives Exchange (ICDX), also known as Bursa Komoditi dan Derivatif Indonesia (BKDI), shows substantial growth in digital gold transactions.

In the first quarter of 2026, total transactions reached 30,921,382 grams—an increase of 246% compared to 8,941,108 grams recorded during the same period in Q1 2025.

ICDX Director Nursalam noted that this growth highlights increasing public interest in digital gold trading within the futures exchange market. However, he also urged caution, reminding investors to be vigilant about various digital gold trading offers circulating on social media.

Moving forward, ICDX plans to collaborate with key stakeholders, including regulators such as Bappebti, to further expand the ecosystem and drive higher transaction volumes.

“Based on the positive trend in the first quarter of 2026, we are optimistic that transactions will continue to grow throughout the year,” Nursalam concluded.

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Gold Trading Surge

Digital Gold Trading Surges 246% in Q1 2026 as Investor Interest Soars

Digital gold trading in Indonesia is experiencing rapid growth, with transactions on the Indonesia Commodity & Derivatives Exchange (ICDX), also known as the Bursa Komoditi dan Derivatif Indonesia, rising sharply in early 2026.

According to ICDX data, total digital physical gold transactions reached 30,921,382 grams in the first quarter of 2026, marking a remarkable 246% increase compared to 8,941,108 grams recorded during the same period in Q1 2025. Throughout 2025, total transactions in this market reached 56,595,115 grams, highlighting strong and consistent growth.

ICDX Director Nursalam stated that the significant rise in Q1 2026 reflects growing public interest in digital gold trading on futures exchanges. However, he also urged investors to remain cautious of misleading digital gold offers circulating on social media.

Looking ahead, ICDX plans to collaborate with key stakeholders, including regulators such as Badan Pengawas Perdagangan Berjangka Komoditi, to further strengthen and expand the digital gold ecosystem.

“We are optimistic that transaction growth will remain positive through the end of 2026 based on current trends,” Nursalam said in an official statement on April 15, 2026.

Meanwhile, Bappebti Head Tirta Karma Senjaya emphasized that since the inception of digital gold trading in Indonesia, regulators have ensured that all traded gold is backed by physical assets. This measure is crucial for maintaining investor protection and trust.

Within this ecosystem, Bappebti oversees all key components, including exchanges as trading platforms, clearing institutions responsible for transaction guarantees and settlements, and depository institutions that securely store the physical gold.

Bappebti expects the digital gold ecosystem to continue expanding and become a popular alternative investment option for the public.

Data from Bappebti in 2025 shows that the total number of investors in digital gold trading reached 10.5 million. Younger investors dominate the market, with 36.3% aged 25–34 and 32.6% aged 18–24. Students account for the largest professional group at 35.1%.

In terms of transaction behavior, 94.9% of investors trade less than 1 gram of gold, while 92.6% conduct transactions valued below IDR 1 million, indicating strong participation from retail and beginner investors.

Regulations governing digital gold trading in Indonesia are outlined in Bappebti Regulation No. 3 of 2025, which establishes the framework for trading physical gold digitally on futures exchanges.

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Gold Near 4800

Gold Eyes $4,800 as Weaker US Dollar Boosts Bullion Demand

Gold prices extended their rebound on Tuesday, climbing toward the $4,800 level after recovering strongly from below $4,650 in the previous session. Despite stalled US-Iran peace talks over the weekend, investors remain cautiously optimistic that diplomatic negotiations will continue. At the same time, uncertainty surrounding future interest rate moves by the Federal Reserve is weighing on the US Dollar, providing additional support for gold.

Technical Analysis: Gold Faces Key Resistance Near $4,855

Following its recent recovery, a sustained move above the 50% Fibonacci retracement of the March decline could act as a key trigger for bullish momentum in XAU/USD. However, gold remains capped below the 200-period Simple Moving Average (SMA) at $4,854.58, keeping the broader market sentiment slightly bearish.

Momentum indicators show mixed signals. The Relative Strength Index (RSI) hovers around 57, indicating mild bullish bias, while the Moving Average Convergence Divergence (MACD) histogram is approaching the zero line—suggesting that bearish pressure is easing but not fully reversed.

On the upside, immediate resistance is seen at the 200-period SMA near $4,855, followed by the 61.8% Fibonacci retracement at $4,913. A breakout above this level could pave the way for a rally toward $5,133 and potentially the cycle high at $5,413.

On the downside, initial support lies at the 50% Fibonacci level around $4,759, with further support at $4,604 (38.2%) and $4,413. A break below these levels could expose a deeper decline toward $4,104.

Fundamental Outlook: Fed Uncertainty and Geopolitics Drive Gold

Market sentiment remains influenced by a mix of geopolitical tensions and monetary policy expectations. US Vice President JD Vance struck a cautiously optimistic tone regarding negotiations with Iran, noting progress despite the lack of a breakthrough. Hopes for a potential agreement have improved overall risk sentiment, weakening the US Dollar and supporting USD-denominated assets like gold.

Meanwhile, escalating conflict in the Middle East continues to raise concerns over energy-driven inflation. Recent data showed US consumer inflation surged to its highest level in nearly four years in March, largely due to rising energy prices linked to geopolitical tensions.

Despite this, the CME Group’s FedWatch Tool indicates a 30% probability of a 25 basis point rate cut by December. Expectations of lower interest rates are typically bullish for non-yielding assets like gold, further pressuring the US Dollar.

Gold prices recently touched the $4,777 region, although gains remain limited amid ongoing instability in the Strait of Hormuz. US President Donald Trump announced the start of a naval blockade in the strategic waterway, warning of military action against Iranian vessels. In response, Iran threatened ports across the Persian Gulf and Gulf of Oman, keeping geopolitical risks elevated.

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Gold Outlook Volatile

 

Gold Price Outlook Remains Volatile This Week: Spot and Antam Trends to Watch

Gold price prospects remain highly volatile this week, driven by ongoing geopolitical tensions and shifting global interest rate expectations.

According to Trading Economics on Monday (April 13) at 11:30 WIB, global gold prices are currently hovering around US$4,712 per troy ounce, marking a 5.9% decline over the past month.

Meanwhile, based on data from Logam Mulia, the price of Antam gold dropped to Rp 2,818,000 per gram, down Rp 42,000 on a daily basis.

Short-Term Gold Outlook: Correction Still Possible

Currency and commodity analyst Ibrahim Assuaibi stated that gold prices still have the potential to correct in the short term.

For this week, he forecasts global gold support at US$4,638 per troy ounce, with Antam gold potentially easing to around Rp 2,840,000 per gram, reflecting a correction of approximately Rp 20,000.

“If selling pressure continues, gold prices could fall deeper toward US$4,358 per troy ounce by the end of the week, while Antam gold may decline to Rp 2,780,000 per gram,” Ibrahim said on Sunday (April 12, 2026).

Upside Potential Remains Open

Despite downside risks, the upside potential for gold remains intact. Ibrahim projects resistance at US$4,897 per troy ounce, with Antam gold possibly rising to Rp 2,880,000 per gram.

In a more bullish scenario, global gold prices could surge past US$5,138 per troy ounce, potentially pushing Antam gold to as high as Rp 3,100,000 per gram.

Key Drivers: Geopolitics and Interest Rates

The wide trading range in gold prices is largely influenced by global factors, particularly geopolitical developments in the Middle East.

Ibrahim noted that potential negotiations between the United States and Iran, mediated by Pakistan, could open the door to a temporary ceasefire. If stability is achieved, oil prices may decline, easing inflation and increasing the likelihood of interest rate cuts by the Federal Reserve—conditions that are favorable for gold.

On the other hand, if ceasefire efforts fail and tensions escalate, oil prices and the US dollar could strengthen, further boosting gold’s appeal as a safe-haven asset.

US-China Tensions and Fed Policy Support Gold

Rising tensions between the United States and China over military support to Iran are also supporting gold prices. This situation may pressure emerging market currencies, including the Indonesian rupiah, thereby lifting domestic gold prices such as Antam.

From a monetary policy perspective, expectations of Federal Reserve rate cuts remain a key bullish catalyst. A more accommodative stance from the US central bank is expected to support global gold prices.

Additionally, Donald Trump’s decision to appoint Kevin Warsh signals potential policy alignment between the US government and the central bank, particularly regarding interest rate cuts—further strengthening gold’s outlook.

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Gold Prices Fall

Gold Prices Slip Today (April 10) but Remain on Track for Third Weekly Gain

Gold prices edged lower ahead of the weekend as a stronger US dollar and ongoing uncertainty surrounding the US-Iran ceasefire weighed on the market. Despite the pullback, the precious metal is still on course to record its third consecutive weekly gain, supported by expectations of earlier and deeper US interest rate cuts, which typically boost non-yielding assets like gold.

As of Friday (April 10, 2026) at 11:00 WIB, spot gold dipped 0.1% to $4,759.54 per ounce. However, prices have still climbed 1.8% so far this week, reflecting continued bullish sentiment.

Meanwhile, US gold futures for June delivery declined 0.7% to $4,782.70 per ounce. The strengthening US dollar index made dollar-denominated gold more expensive for holders of other currencies, adding downward pressure.

Market analysts note that uncertainty remains a key factor. “There is still a lack of clarity around how the ceasefire in the Middle East will evolve and what it means for energy markets, leaving gold somewhat range-bound heading into the final session of the week,” said Kyle Rodda, Senior Financial Market Analyst at Capital.com.

Gold prices have fallen roughly 10% since the US-Israel conflict involving Iran escalated on February 28, as rising energy prices fueled inflation concerns and increased the likelihood of higher interest rates.

Tensions resurfaced on Friday as Washington accused Tehran of violating commitments in the Strait of Hormuz, highlighting the fragility of the two-week ceasefire agreement. However, Brent crude has dropped more than 11% this week, driven by optimism that the ceasefire could help reopen the vital shipping route, which handles around 20% of global oil and LNG flows.

According to Rodda, gold’s outlook remains highly dependent on geopolitical developments. “If tensions escalate, gold could quickly retreat to the mid-$4,000 range. But if the ceasefire holds and a peace agreement becomes more likely, prices could break above the $5,000 level.”

On the data front, the US Personal Consumption Expenditures (PCE) Index— the Federal Reserve’s preferred inflation gauge— rose 2.8% year-on-year through February, in line with expectations, and is projected to increase further in March.

Investors are now closely watching the upcoming US Consumer Price Index (CPI) data for March, due later today, for clearer signals on the Federal Reserve’s monetary policy path.

Market expectations for a rate cut are also shifting. According to CME’s FedWatch Tool, there is now a 31% probability of at least a 25 basis point rate cut in December, up from 20% in the previous session.

Among other precious metals, spot silver rose 0.9% to $75.74 per ounce, while platinum fell 2% to $2,061.06, and palladium declined 1.2% to $1,539.43.

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Antam Gold Drops

 

Antam Gold Prices Today (April 9): Drop Rp50,000 to Rp2,850,000 per Gram

The price of certified Antam gold bars produced by PT Aneka Tambang Tbk (ANTM) declined on Thursday (April 9, 2026).

According to the official Logam Mulia website, the price of 1 gram of Antam gold is now Rp2,850,000, marking a decrease of Rp50,000 compared to Wednesday (April 8, 2026), when it stood at Rp2,900,000 per gram.

Meanwhile, the buyback price of Antam gold dropped to Rp2,605,000 per gram, down Rp59,000 from the previous level of Rp2,664,000.

Latest Antam Gold Prices (April 9, 2026)

Prices exclude tax

• 0.5 gram: Rp1,475,000
• 1 gram: Rp2,850,000
• 5 grams: Rp14,065,000
• 10 grams: Rp28,050,000
• 25 grams: Rp69,960,000
• 50 grams: Rp139,755,000
• 100 grams: Rp279,360,000
• 250 grams: Rp698,090,000
• 500 grams: Rp1,395,900,000
• 1,000 grams: Rp2,790,600,000

This decline reflects ongoing fluctuations in the gold market, making it important for investors to monitor daily price movements closely.

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Gold Prices Surge

Gold Prices Surge on US-Iran Ceasefire Relief

Gold prices extended their rally on Wednesday morning (April 8) as markets reassessed short-term risks following a temporary de-escalation in tensions between the United States and Iran. The move came after Donald Trump agreed to pause military strikes against Iran for two weeks, easing fears of an immediate geopolitical escalation.

As of 06:30 WIB, spot gold rose 1.3% to $4,765.59 per ounce, building on a 1.2% gain in the previous session. Meanwhile, gold futures for June 2026 delivery climbed 2.3% to $4,793.20 per ounce, reflecting strong investor demand for safe-haven assets.

The bullish momentum was supported by Trump’s statement confirming the temporary halt in attacks, alongside the United States receiving a 10-point proposal from Iran—described as a viable basis for negotiations. The announcement followed earlier warnings from Washington, urging Iran to reopen the Strait of Hormuz or face potential retaliation.

Pakistan, acting as a mediator between Washington and Tehran, has requested a two-week extension to allow diplomatic efforts to progress. A senior Iranian official also indicated that Tehran is reviewing the proposal positively, signaling potential room for further de-escalation.

However, rising energy prices continue to fuel inflation concerns, complicating interest rate decisions by central banks. While gold is traditionally viewed as a hedge against inflation and economic uncertainty, its appeal may weaken in a high-interest-rate environment due to the lack of yield.

According to research by the Federal Reserve Bank of Dallas, prolonged disruptions in global oil trade could push US inflation above 4% by year-end, with the possibility of sharper increases in the near term.

Despite starting the year on a strong note, gold has declined around 10% since the Iran conflict began on February 28, highlighting ongoing market volatility.

Investors are now closely watching the release of minutes from the Federal Reserve’s March meeting for further policy direction. Meanwhile, China continues to strengthen its gold reserves, with the People’s Bank of China extending its buying streak to 17 consecutive months, based on data released Tuesday (April 7).

Among other precious metals, spot silver rose 2.4% to $74.70 per ounce, platinum gained 1% to $1,976.95 per ounce, and palladium increased 0.7% to $1,479.75 per ounce.

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Antam Gold Rises

 Antam Gold Price Today (April 7): Up Rp19,000 to Rp2,850,000 per Gram

The price of certified Antam gold bars produced by Logam Mulia of PT Aneka Tambang Tbk (ANTM) recorded an increase on Tuesday, April 7, 2026.

According to the official Logam Mulia website, the price of 1 gram of Antam gold is now Rp2,850,000, rising by Rp19,000 compared to Monday (April 6, 2026), when it stood at Rp2,831,000 per gram.

Meanwhile, the Antam gold buyback price also climbed to Rp2,569,000 per gram, marking a Rp19,000 increase from the previous level of Rp2,550,000 per gram.

Latest Antam Gold Prices (April 7, 2026)

Prices exclude applicable taxes

• 0.5 gram: Rp1,475,000
• 1 gram: Rp2,850,000
• 5 grams: Rp14,025,000
• 10 grams: Rp27,995,000
• 25 grams: Rp69,862,000
• 50 grams: Rp139,645,000
• 100 grams: Rp279,212,000
• 250 grams: Rp697,765,000
• 500 grams: Rp1,395,320,000
• 1,000 grams: Rp2,790,600,000

This latest increase in Antam gold prices reflects ongoing market movements, making it essential for investors and gold buyers to stay updated with daily price changes.

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Gold Under Pressure

Gold Struggles Near 100-Day SMA as Trump Escalates Pressure on Iran

Gold prices are hovering around the 100-day Simple Moving Average (SMA) as geopolitical tensions intensify following renewed threats from former U.S. President Donald Trump toward Iran. Despite opening with a bearish gap on Monday, the precious metal managed to hold above the key $4,600 level, showing limited resilience amid rising market uncertainty.

Gold Remains Under Pressure Amid Geopolitical Tensions

Market sentiment turned cautious after hopes for de-escalation in the Middle East faded. Trump warned of potential strikes on Iran’s infrastructure if the Strait of Hormuz remains blocked, triggering renewed risk-off sentiment across global markets.

As a result, gold maintains a short-term bearish bias, trading below both the 21-day SMA at $4,774.95 and the 50-day SMA at $4,943.64. This technical setup continues to cap any upward momentum, keeping recent rebounds within a corrective phase.

Technical Outlook: Key Support and Resistance Levels

Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI 14) remains around 45, signaling weak buying interest following a previous oversold bounce.

• Immediate support is seen at the 100-day SMA near $4,654.27
• A decisive break below this level could expose the next major support at the 200-day SMA around $4,150.48
• On the upside, gold needs a daily close above the 21-day SMA at $4,774.95 to ease downside pressure
• Further resistance stands at the 50-day SMA near $4,943.64, which limits a stronger recovery

Trump’s Threats Add to Market Volatility

Gold’s struggle early Monday comes as traders digest Trump’s social media statements posted Sunday, where he escalated pressure on Iran and extended the deadline to reopen the Strait of Hormuz.

In a controversial post, Trump warned of severe consequences if the waterway remains blocked, raising fears of further escalation in the region. In response, Iran’s Islamic Revolutionary Guard Corps (IRGC) signaled potential retaliation against U.S. economic interests if civilian targets are attacked.

Reports also suggest Iran is considering a significantly stronger response should tensions escalate further, keeping global markets on edge.

Strong US Dollar Weighs on Gold Prices

The U.S. Dollar (USD) continues to gain strength as investors seek safe-haven assets amid geopolitical risks. This trend puts additional pressure on USD-denominated gold.

Adding to the bearish outlook, expectations for a more hawkish Federal Reserve remain elevated following stronger-than-expected U.S. labor market data.

According to the Bureau of Labor Statistics (BLS), Nonfarm Payrolls surged by 178,000 in March, far exceeding market expectations of 60,000. Meanwhile, the unemployment rate unexpectedly dropped to 4.3%, reinforcing the Fed’s cautious stance on rate cuts.

Market pricing currently suggests a high probability that the Federal Reserve will hold interest rates steady through the remainder of the year, further supporting the U.S. Dollar.

Market Focus: Strait of Hormuz and Fed Policy

Looking ahead, traders are closely watching developments surrounding the potential reopening of the Strait of Hormuz. Any escalation or resolution could significantly impact gold prices.

Additionally, thin trading conditions due to the Easter holiday may amplify price volatility as U.S. markets return from the extended weekend.

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Gold Price Drops

Gold Falls Below $4,700 Ahead of US NFP Release

Gold prices slipped toward the $4,675 level during early Asian trading on Friday, facing renewed selling pressure. The decline comes after comments from US President Donald Trump regarding a potential conflict with Iran, which triggered a sharp rise in oil prices. Trading activity remained subdued due to the Good Friday holiday.

From a technical perspective, gold failed to hold above the 200-period Exponential Moving Average (EMA), now acting as resistance on the 4-hour chart near the $4,800 level—reinforcing bearish sentiment for XAU/USD. The Relative Strength Index (RSI) has retreated to the mid-50 range after previously entering overbought territory above 70, while the Moving Average Convergence Divergence (MACD) is pulling back from recent highs. These indicators suggest fading bullish momentum rather than a complete trend reversal.

Further downside pressure below the daily swing low around $4,554–$4,553 could push gold prices toward the next support level just below the key psychological mark of $4,500. A break below this level may open the door to deeper losses toward $4,400. On the upside, immediate resistance is seen near the recent swing high at $4,765. A breakout above this level could drive prices toward the $4,820–$4,830 zone, where the 200-period EMA presents a stronger barrier.

Meanwhile, Trump added that Iran’s energy infrastructure remains a potential target. A report from the Wall Street Journal also noted that the United Arab Emirates is pushing for military action to reopen the Strait of Hormuz, including lobbying for a UN Security Council resolution. This development fueled a sharp rally in crude oil prices, reigniting inflation concerns and strengthening expectations of further interest rate hikes by the Federal Reserve.

Rising US Treasury yields have supported the US dollar, adding pressure on non-yielding assets like gold. As a result, gold has dropped nearly $150 from its Asian session peak, with volatility expected to remain high amid ongoing geopolitical developments.

Despite the upcoming US Nonfarm Payrolls (NFP) report, gold’s reaction may be limited as markets remain focused on tensions in the Middle East. However, the broader fundamental outlook suggests caution before expecting a sustained recovery from the recent four-month low near $4,100.

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Gold Insurance Interest

Gold Interest Rises in Insurance Industry, Great Eastern (GEGI) Responds

PT Great Eastern General Insurance Indonesia (GEGI) reports a growing interest in gold as an investment instrument amid ongoing global economic uncertainty. However, the allocation of gold within the insurance industry’s investment portfolio remains relatively small.

According to GEGI Marketing Director, Linggawati Tok, gold is increasingly being considered as an alternative for portfolio diversification and a hedge against inflation. Despite this trend, she emphasized that its use must remain selective and carefully measured.

“Gold does not generate regular income and tends to have relatively high price volatility. Therefore, its utilization must be done selectively and in a well-calculated manner,” Linggawati stated on Tuesday (March 31, 2026).

Data from Indonesia’s Financial Services Authority (OJK) shows that as of January 2026, total investment in gold within the insurance sector reached only around Rp3.4 billion, equivalent to just 0.0005% of total industry investments.

Meanwhile, insurance companies continue to rely heavily on fixed-income instruments such as government bonds (SBN), corporate bonds, and deposits, which are considered more stable and better aligned with policyholder obligations.

Nevertheless, GEGI believes that the potential for increased gold investment remains open in the future, particularly as part of a long-term diversification strategy.

“Looking ahead, the opportunity is still there. However, it will be implemented gradually while adhering to prudential principles, risk management, and regulatory requirements,” she concluded.

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Gold Prices Rise

 Gold Prices Rise for Third Straight Day on April 1, 2026 Amid Middle East Tensions Easing

Gold prices extended their gains on Wednesday morning (April 1, 2026), marking a third consecutive day of increases as geopolitical tensions showed signs of easing.

According to Bloomberg, as of 06:45 WIB, gold futures for June 2026 delivery on the Commodity Exchange were trading at $4,716.40 per troy ounce, up 0.81% from the previous session’s level of $4,678.60 per troy ounce.

The recent rally in gold prices comes after U.S. President Donald Trump signaled a potential end to the ongoing conflict with Iran within the next two to three weeks. The statement boosted market sentiment, reducing uncertainty surrounding global geopolitical risks.

Trump indicated that the United States had achieved most of its military objectives and may leave further developments in the Strait of Hormuz to other nations. This strategic shift has been closely watched by investors, particularly in the commodities and energy markets.

Meanwhile, Iranian state media reported that President Masoud Pezeshkian expressed readiness to end the conflict, provided certain conditions are met. This development has further contributed to easing tensions in the region.

Despite the current rebound, gold bullion recorded a sharp decline of nearly 12% in March. The prolonged conflict in the Middle East, now entering its fifth week, has disrupted global markets, threatened energy supplies, and raised concerns over rising inflation alongside slowing economic growth.

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Gold Price Pullback

 

Gold Price Trims Gains as Hawkish Central Banks Offset Weaker USD

Gold prices trimmed part of their intraday gains after struggling to sustain momentum above the $4,600 level, retreating from a one-and-a-half-week high reached during the Asian session. Reports that Donald Trump may end the military campaign against Iran—despite the Strait of Hormuz remaining partially closed—triggered a corrective pullback in crude oil prices.

This development eased inflation concerns and kept US Treasury yields subdued, prompting some profit-taking in the US Dollar (USD) and providing limited support to gold prices.

Technical Analysis: Short-Term Bearish Bias Emerges

From a technical perspective, gold shows a cautiously bearish short-term bias as prices trade below the 38.2% Fibonacci retracement of the decline from the monthly swing high.

Additionally, gold remains below the 100-day Simple Moving Average (SMA), signaling that while the broader uptrend is still intact, near-term pressure is building. Meanwhile, the 200-day SMA continues to trend higher, reinforcing the long-term bullish structure despite recent pullbacks.

The Relative Strength Index (RSI) has rebounded from oversold territory to around 41, indicating weakening bearish momentum but limited upside strength. At the same time, the MACD remains in negative territory, confirming fading bullish momentum.

• Immediate resistance: $4,592 (38.2% Fibonacci level)
• Next resistance: $4,637 (100-day SMA)
• A daily close above this level could open the door toward $4,747 (50% retracement)

On the downside:

• Initial support: $4,470 (recent low)
• Key support: $4,401 (23.6% retracement)
• A break below this zone could expose $4,200–$4,150, with the 200-day SMA near $4,129 acting as a major support level

As long as gold holds above the 23.6% retracement and 200-day SMA, the broader bullish outlook remains intact. However, a breakdown below these levels would strengthen the current bearish bias.

Geopolitical Risks and Fed Policy Cap Gold Upside

Iran’s reluctance to engage in direct negotiations with the US highlights fragile diplomatic progress. At the same time, continued US military deployment in the region adds uncertainty and dampens hopes for rapid de-escalation in the Middle East.

This backdrop could support crude oil prices and keep inflation risks elevated, reinforcing expectations of higher global interest rates.

Hawkish signals from major central banks, particularly the Federal Reserve (Fed), continue to limit upside potential for non-yielding assets like gold.

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Gold Gains Today

Gold Gains After Trump Signals Progress With Iran, Still Heads for Weekly Loss

Gold prices edged higher in Asian trading on Friday, supported by a slightly weaker U.S. dollar and easing geopolitical tensions after Donald Trump signaled progress in negotiations with Iran.

Spot gold rose 1.2% to $4,429.32 per ounce as of 22:43 ET (02:43 GMT), while U.S. gold futures climbed 1.1% to $4,457.60 per ounce. Despite the rebound, gold remains on track to post a weekly decline of around 1.3%, following a sharp 3% drop in the previous session.

Trump-Iran Developments Weigh on Safe-Haven Demand

On Thursday, Trump announced a temporary 10-day halt to strikes on Iran’s energy infrastructure at Tehran’s request, adding that negotiations are “going very well.”

This pause in hostilities has reduced immediate safe-haven demand. However, it has also put mild pressure on the U.S. dollar, offering support to gold prices, which typically move inversely to the greenback.

The US Dollar Index slipped 0.1% after posting gains over the past three sessions.

Volatility Persists Amid Middle East Tensions

Gold markets have experienced significant volatility in recent weeks, as ongoing Middle East tensions disrupt traditional safe-haven dynamics. Prices surged to record highs earlier this year before pulling back sharply over the past month.

Earlier this month, a spike in oil prices—triggered by supply disruptions linked to the Iran conflict—raised concerns about global inflation. Higher energy costs could keep inflation elevated and reinforce expectations that central banks will maintain higher interest rates for longer.

Outlook: Uncertainty Continues to Support Gold

While easing tensions between Washington and Tehran have capped gains, lingering uncertainty surrounding the conflict and its broader economic impact continues to provide underlying support for gold. 

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Gold Bearish Signal

Gold Recovery Stalls Amid Middle East Escalation Risks and Bearish Signals

Gold prices remained defensive around the $4,500 level on Thursday morning after facing strong rejection near $4,600 in the previous session. The US Dollar continued to hold firm as fears of escalating tensions in the Middle East intensified, overshadowing fading hopes for a ceasefire.

From a technical perspective, gold appears vulnerable as the Relative Strength Index (RSI) remains below the neutral 50 level, while a confirmed Bear Cross continues to reinforce downside pressure.

In the short term, the bias has turned slightly bearish after spot prices slipped below the 21-day Simple Moving Average (SMA) near $4,940 and the 50-day SMA around $4,965. This shift signals growing seller control, although prices still trade above the rising 100-day and 200-day SMAs, clustered between $4,620 and $4,110. This structure suggests a correction within a broader uptrend, rather than a full trend reversal.

Momentum indicators further support the bearish outlook. The RSI currently sits at 33, hovering near oversold territory, indicating sustained selling pressure. Additionally, the 21-day SMA crossing below the 50-day SMA on Wednesday confirms the Bear Cross, strengthening bearish sentiment.

On the upside, initial resistance is seen at the 21-day SMA near $4,940, followed by the 50-day SMA at $4,965. A sustained breakout above this zone could ease immediate bearish pressure and open the path toward $5,100, where the latest swing high forms a stronger barrier.

On the downside, immediate support lies around $4,450, ahead of the rising 100-day SMA near $4,625, a key level maintaining the broader bullish structure. A decisive break below this level could expose the $4,300 zone, with further downside potentially testing the 200-day SMA near $4,115, where buying interest may re-emerge.

Geopolitical uncertainty remains a key driver. Confusion surrounding potential ceasefire negotiations and the risk of further escalation in the Middle East have revived risk-off sentiment across global markets. This dynamic is supporting demand for the US Dollar as a safe-haven asset, at the expense of gold.

Donald Trump continues to assert that peace negotiations with Iran are ongoing, while Iranian officials deny such talks. Meanwhile, Abbas Araghchi stated that the US proposal has been reviewed by senior authorities, but Iran has no intention to negotiate at this stage.

Instead, Iran has reportedly introduced a five-point plan, including a ceasefire, guarantees against future conflict, compensation, and control over the strategically vital Strait of Hormuz, according to The Guardian.

However, markets interpret the ongoing “peace narrative” as a potential delay tactic by Donald Trump to prepare for a possible ground operation on Kharg Island—a critical oil export hub handling nearly 90% of Iran’s shipments.

The United States has already increased military deployments in the region, further heightening tensions. This ongoing risk environment continues to strengthen the US Dollar—the world’s primary reserve currency—while limiting gold’s recovery potential.

Looking ahead, gold traders will closely monitor geopolitical developments and quarter-end positioning flows, both of which could significantly influence short-term price action.

Overall, technical indicators and geopolitical risks suggest that downside pressure on gold remains intact in the near term, especially after the rejection at the $4,600 resistance level.

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EMAS Targets Global Investors

 

EMAS Targets Global Investors with Hong Kong Stock Exchange Listing Plan

PT Merdeka Gold Resources Tbk (EMAS) has officially submitted a share listing application (Form A1) to the The Stock Exchange of Hong Kong Limited on March 20, 2026, marking a strategic move to expand its presence in global capital markets.

The application follows Hong Kong’s listing regulations, with UBS Securities Hong Kong Limited and CITIC Securities (Hong Kong) Limited appointed as joint sponsors for the process.

The company believes that listing on HKEX will enhance access to international investors, improve stock liquidity, and provide greater financial flexibility to support future business expansion. This move is also expected to strengthen EMAS’s global market position, broaden its shareholder base, and elevate corporate governance and reporting standards in line with international best practices.

Currently, EMAS is developing and operating the Pani Gold Mine located in Pohuwato Regency, Gorontalo. The project is targeted to become one of Asia’s two largest primary gold mines by 2030.

The Pani Gold Mine reached its first gold pour milestone in February 2026 and recorded its initial gold sales in March 2026 to PT Aneka Tambang Tbk under a two-year domestic gold sales agreement. This achievement marks the beginning of EMAS’s commercial production phase.

President Director Boyke Poerbaya Abidin stated that the HKEX listing application represents a continuation of the company’s growth strategy following its IPO on the Indonesia Stock Exchange in September 2025 and the commencement of production at Pani earlier this year.

As part of the listing process, a redacted draft application proof has been published on the HKEX website for informational purposes. The document outlines the company’s business overview, operations, financial performance, and risk factors, but it remains a preliminary version and not a final offering document.

The company emphasized that the document does not constitute an offer to sell or a solicitation to buy securities. The listing remains subject to regulatory approval and market conditions, with no guarantee of completion at this stage.

Management advises shareholders and prospective investors to carefully assess potential risks and exercise caution when making investment decisions while awaiting further developments in accordance with applicable regulations.

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Gold Pullback Risk

 

Gold Faces Pullback Risk Amid Oversold Conditions and Gulf War Tensions

Gold prices extended their downward trend on Tuesday morning, slipping below the $4,400 level as geopolitical tensions in the Middle East persist. The ongoing conflict continues despite efforts by Donald Trump to extend an ultimatum for Iran to reopen the Strait of Hormuz within 48 hours.

In the short term, gold has shifted into a bearish bias after breaking below key technical indicators, including the 21-day Simple Moving Average (SMA) near $5,000 and the 50-day SMA around $4,970. This breakdown confirms a loss of previous support levels and signals a transition from a bullish trend into a corrective phase. Prices are now approaching the 100-day SMA near $4,610. Meanwhile, the 14-day Relative Strength Index (RSI) stands at 26, indicating oversold conditions, though the consistent decline from above 50 highlights strong selling pressure rather than a completed downtrend.

Initial resistance is seen near $4,650—formerly a support level—while the 21-day SMA around $5,000 reinforces a broader supply zone during potential rebounds. A daily close above the 50-day SMA at $4,970 is needed to ease immediate downside pressure and reopen the path toward the $5,100 level. On the downside, immediate support lies at the psychological level of $4,300, followed by the rising 200-day SMA near $4,100, which represents a stronger medium-term floor. A decisive break below $4,300 could extend the bearish phase toward the 200-day average and deepen the correction within the long-term uptrend.

Market sentiment remains highly sensitive to geopolitical developments. Trump cited “productive talks” with Iran as a reason for a potential five-day delay in military action. However, Iran’s Foreign Ministry denied any negotiations with the United States over the past 24 days of conflict.

This conflicting narrative has fueled volatility across financial markets, particularly in gold, silver, and WTI crude oil. Gold recently rebounded from a four-month low of $4,099 after Trump’s delay offered temporary relief to buyers. Prior to that, the metal had plunged nearly 9% amid escalating tensions, including threats targeting civilian and energy infrastructure linked to the Strait of Hormuz dispute.

Despite the temporary relief, markets appear to interpret Trump’s softened stance as a recurring “TACO” (Trump Always Chickens Out) moment, prompting a return of risk-off sentiment and renewed bearish pressure on gold. At the same time, oil prices are recovering, with expectations of prolonged elevated energy costs.

This outlook has revived inflation concerns and increased speculation that the Federal Reserve may consider raising interest rates later this year. Rising rate expectations typically weigh on non-yielding assets like gold, adding further downside pressure.

Additional bearish momentum comes from reports of renewed Israeli strikes in Tehran. The Israel Defense Forces (IDF) confirmed ongoing operations in line with government directives, further intensifying geopolitical uncertainty.

Looking ahead, gold sellers may face intermittent pullbacks due to deeply oversold conditions, with RSI levels remaining well below 30. However, price action will likely continue to be driven primarily by developments in the Middle East conflict, making geopolitical headlines the key catalyst for gold market direction.

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