Jakarta - The price of gold on Monday (30/8) has the potential to strengthen, triggered by Fed Chair Jerome Powell's statement at the end of last week that the US Central Bank will not raise interest rates in the near future.

"Today the level of US$1820 per troy ounce will become resistance. A break above the resistance opens the opportunity for an increase to the area near US$1,830 per US dollar," said Commodity Observer Ariston Tjendra in Jakarta.

But on the other hand, Powell is also still hinting at a tapering opportunity at the end of this year, which means there will be a reduction in US dollar liquidity in the market.

The market will confirm this tapering issue with US employment data due this week.