Although Philipp Lahm captained the side in South Africa, he was only given the armband because Michael Ballack sustained an injury in May that ruled him out of the tournament.
And whilst Lahm has already expressed his desire to remain as captain, Ballack has also declared that he has no intention of relinquishing the role.
Loew will announce his decision before the friendly against Denmark in Copenhagen on August 11.
"I have acknowledged Philipp Lahm's wish, which is legitimate, and I have heard from both him and Michael Ballack that it is the national-team coach's decision," explained Low.
"Of course it is my decision and I have not yet made up my mind definitely.
"I will speak with both of them at the necessary time. That is going to be immediately before the Denmark game.
"It is important for me to see how he (Ballack) builds up a rhythm in the coming weeks.
"I had contact with Michael last week and asked him how he is. Michael Ballack has always been a very, very important player for the Germany national team and he has proven that in many games."