Spot gold price on Tuesday (10/8) is still potentially under pressure to the area of US$1,700 per troy ounce.

Money Market Observer Ariston Tjendra said the tapering issue in the US that was revealed by the Deputy Governor of the US Central Bank, Richard Clarida, on Wednesday night last week might continue to put pressure on gold prices. 

"This tapering issue is strengthened by the improvement in the government's version of the US labor data released Friday night," he said in Jakarta.

Furthermore, last night one of the top officials of the US Central Bank, Eric Rosengren, expressed the same belief that the Fed will begin reducing additional liquidity at the end of the year.