Gold prices on Tuesday (8/6) have the opportunity to strengthen by moving in the range of US$1,870-1,920 per troy ounce.

"The decline in the 10-year US bond yield to around 1.57% has helped strengthen gold prices," said Commodity Observer Ariston Tjendra in Jakarta.

In addition, the decline in yields was due to the market's expectation that the US Central Bank would not taper after the US employment; non-farm payroll data in May showed results that were below expectations.

The market looks forward to May's US consumer price index data, which is an indicator of inflation, to be released late Thursday to determine the price's next direction. A figure that is above expectations could reverse the upward movement of gold prices.