Oil and Gold Continue to Rise, Price Projections for Next Week

Global crude oil and gold prices are expected to continue their upward trend in next week's trading, supported by geopolitical sentiment and global demand.

Based on Trading Economics data on Friday, (27/3/2026), WTI crude oil prices increased by 5.46% in a day to US$ 99.64 per barrel. Meanwhile, Brent crude oil rose by 4.22% daily to US$ 112.57 per barrel.

Additionally, gold reached US$ 4,495 per troy ounce, up 2.63% in a day. Meanwhile, Antam-certified bullion closed at Rp 2,837,000 per gram this week.

Currency and commodity analyst Ibrahim Assuaibi said the rise in crude oil and gold prices is expected to continue in the short term.

"WTI oil is likely to be in the range of US$ 92,300 - US$ 112,200 per barrel next week. Then Brent is expected to be in the range of US$ 110 - US$ 116 per barrel," Ibrahim said in his release on Sunday, (29/3/2026).

Ibrahim also estimates that Brent prices could reach US$ 125 per barrel next week.

For gold, Ibrahim sees room for further gains, although movement is likely to be volatile.

If a correction occurs, gold prices are expected to move in the range of US$ 4,363 per troy ounce, and Antam bullion prices could be Rp 2,815,000 per gram.

However, if prices strengthen again, gold could break through the resistance level at US$ 4,666 per troy ounce. In that case, Antam bullion would be priced at Rp 2,855,000 per gram.

Furthermore, if the upward trend continues, the next resistance level is at US$ 4,912, which could push Antam bullion prices to around Rp 2,920,000 per gram.

"So next week, precious metals reaching Rp 3,000,000 is unlikely; it might happen the following week, on April 6-7," Ibrahim said.

Ibrahim explained that the geopolitical conflict in the Middle East is one of the main drivers behind the rise in oil and gold prices.

Additionally, Ukraine's attack on Russian oil facilities has also affected global energy supply.

On the gold side, demand is supported by large-scale purchases by global central banks, which are taking advantage of the price momentum to increase reserves.