Gotrade News - Spot gold weakened to USD 4,658.65 per troy ounce on Monday morning (April 13, 2026), down roughly 1.9% from last Friday's close. The pullback came after 21 hours of US-Iran negotiations ended without a deal, injecting fresh uncertainty into commodity markets.
Despite the early-week dip, gold still logged a point-to-point gain of approximately 2.17% over the past week. This marks the third consecutive weekly advance, reflecting sustained investor appetite for safe-haven assets amid escalating global geopolitical tensions.
Key Takeaways:
- Spot gold was quoted at USD 4,658.65 per troy ounce Monday morning, down 1.9% following the collapse of US-Iran negotiations
- Indonesian domestic gold (Antam 1 gram at Pegadaian) traded at IDR 2,975,000 per gram as of April 13, 2026 — provided as local price context
- Analysts are split: 50% of Wall Street analysts are short-term bearish, while 63% of retail investors remain optimistic about a price rise this week
The breakdown in US-Iran diplomacy was the primary force weighing on gold prices at the start of the week. IDX Channel reported that Donald Trump ordered a full blockade of the Strait of Hormuz, a chokepoint through which roughly 20% of global energy supply passes.
A sustained blockade of the Strait of Hormuz could drive crude oil prices sharply higher and stoke further inflation risks. This dynamic creates a double-edged environment for gold, since elevated inflation typically makes central banks reluctant to cut interest rates.
On the Indonesian physical gold market, Bloomberg Technoz reported that Antam 1-gram gold bars sold at IDR 2,975,000 at Pegadaian as of Monday, April 13, 2026 — these are Indonesian domestic prices that move independently of global spot prices. Other local products traded lower, with UBS 1-gram bars at IDR 2,890,000 and Galeri 24 1-gram bars at IDR 2,876,000.
The price differences across products reflect varying brand premiums and market reputations in Indonesia's domestic precious metals market. For investors weighing investment risk across physical asset classes, certified products like Antam remain the more trusted choice in that market.
What Analysts Are Saying This Week
Market sentiment is notably divided, according to a survey reported by Liputan6 drawing on Wall Street analysts and global retail market participants. Fifty percent of Wall Street analysts project gold prices will rise in the near term, while 63% of retail investors said they were optimistic heading into this week.
Adrian Day of Adrian Day Asset Management said gold continues to grind higher even if the move is uneven. He believes the post-Iran-conflict low has already been put in, but the next direction depends heavily on how ceasefire developments unfold.
Rich Checkan of Asset Strategies International holds a more bullish view, targeting USD 5,000 per troy ounce or higher. He cautioned, however, that any fresh escalation in US-Iran tensions could produce meaningful short-term downside pressure.
Colin Cieszynski of SIA Wealth Management maps gold's current trading range between USD 4,400 and USD 5,200 per troy ounce. He views price action as highly unpredictable given how quickly geopolitical dynamics are shifting, which is why investors need a clear understanding of hedging strategies before taking a position.
Darin Newsom of Barchart.com takes a more cautious near-term stance, seeing the June futures contract approaching a ceiling with potential downside momentum building. He acknowledges that structural support factors — particularly central bank gold buying — remain intact and continue to underpin the longer-term bull case.
Gold-Related Stocks Worth Watching
For investors seeking gold exposure without buying physical metal, US equity markets offer several compelling options. Newmont stock (NEM) and the GDX gold miners ETF both track global gold prices and can serve as more liquid alternatives to direct ownership.
GDX is an ETF that holds a portfolio of the world's largest gold mining companies, including Newmont, Barrick Gold, and Agnico Eagle. When gold prices rise, mining stocks tend to move more aggressively due to the operating leverage effect on producer profit margins.
This approach is a form of macro trading, where investors position around large-scale global themes like geopolitical conflict and central bank policy. Investors who understand the US-Iran dynamic and the Federal Reserve's rate trajectory can treat this volatility as an opportunity rather than just a risk.
This week, US Producer Price Index (PPI) data and statements from Federal Reserve officials will be important catalysts to watch. These two factors, alongside US-Iran negotiation developments, will determine whether gold can hold above USD 4,600 or face renewed selling pressure.
Sumber: Bloomberg Technoz, IDX Channel, Liputan6
