Gold prices on trading Wednesday (23/6) are predicted to have the opportunity to experience pressure by moving in the range of US$1,760-US$1,790 per troy ounce.

"Gold prices have the potential to be depressed today with the strengthening of the US dollar that occurred in the market after the testimony of the Governor of the US Central Bank Jerome Powell who emphasized that the US central bank would not rush to increase interest rates just because of high US inflation at this time," said commodity observers Ariston Tjendra in Jakarta.

The market participants are waiting for the index of manufacturing activity and the US service sector in June, which will be released this evening.

The results that show improvement compared to the previous one could encourage the strengthening of the US dollar and depress the price of gold.