On Monday (5/7), gold prices have the opportunity to strengthen with a support-resistance range of US$1,770-US$1,820 per troy ounce.

"The increase in the price of precious metals is because the market sees two components of the US employment data in June which were below expectations, namely data on the rising unemployment rate and data on the average wage which increased below expectations," said Commodity Observer Ariston Tjendra in Jakarta.

He explained that the market considers the US employment data not enough to change the US Central Bank's monetary easing policy even though the Non-Farm Payrolls data released was better than expected.

A loose monetary policy could put pressure on the US dollar and lift gold prices.