The price of gold on Wednesday (7/7) has the opportunity to strengthen by moving in the position of US$1,780-US$1,830 per troy ounce.

"The strengthening of gold prices was helped by the expectation that the US Central Bank would not tighten monetary policy in the near term. The yield on 10-year US government bonds also continued to fall with this expectation," said Commodity Observer Ariston Tjendra in Jakarta.

As for the morning, the US Central Bank will release the minutes of the US Central Bank's monetary policy meeting.

"If the market sees any indication of a potential accelerated US monetary tightening policy from the minutes, this could encourage the strengthening of the US dollar and depress gold prices. And vice versa," said Ariston.