Gold prices on Monday (2/8) have the potential to experience pressure amid market concerns about the increase in COVID-19 cases, which has pushed market participants into safe gold assets.

"The pressure on gold prices is still visible this morning. But the possibility of gold prices can still be closed above US$1,800 per troy ounce," he said in Jakarta.

Today's movement of gold prices is estimated to move in the range of US$1,790-1,820 per troy ounce.

Meanwhile, gold prices closed lower at around US$13 per troy ounce in the range of US$1,814 per troy ounce on last Friday's trading, which was triggered by the strengthening US dollar in the US trading session due to the release of positive US economic data, namely survey data on consumer confidence levels in July and inflation indicator data. June.

Improving economic data opens up opportunities for tapering of US monetary policy.