Markets Drop as Gold Defies Oil

RRI.CO.ID, Jakarta - Most Asian stock markets opened lower today, Monday, 30 March 2026, as rising war tensions pushed global oil prices higher. Brent crude surged to nearly $115 per barrel, while West Texas Intermediate (WTI) rose above $110.

Inflation remains a key concern as central banks are expected to adopt a more hawkish stance. This continues to drive sentiment across global financial markets.

The Indonesian Rupiah weakened to around 16,975 per US Dollar. The pressure came from a stronger US Dollar Index, which rose to about 100.2.

Indonesia’s stock index (IHSG) opened at 7,020 but quickly dipped lower. It has now breached below the key psychological level of 7,000.

Weak regional markets and the softer Rupiah are adding pressure on the IHSG. The condition is deteriorating as geopolitical tensions continue to escalate.

In the coming week, several economic events could influence the market. These include remarks from the Federal Reserve, inflation data, retail sales, and US employment figures.

However, recent economic data has had limited impact on market direction. Investors remain focused on geopolitical risks and commodity price movements.

Gold is currently trading around $4,471 per troy ounce, or about 2.45 million rupiah per gram. Despite uncertainty, gold has failed to sustain strong upward momentum.

Recently, gold has started to stabilize near the $4,500 level. It is also decoupling from the movements in oil prices.