The price of gold on Friday (9/4) has the potential to strengthen in the support and resistance range of US$1,730-US$1,780 per troy ounce.

"The 10-year US government bond yield was corrected yesterday to around 1.61%. This factor will certainly support gold prices," said Commodity Observer Ariston Tjendra in Jakarta.

The affirmation by the Governor of the Central Bank of the United States or The Federal Reserve Chairman Jerome Powell that inflationary pressure is only short-term helped reduce the yield of the treasury.

The US economic data that gold traders need to pay attention to is the producer price index data for March 2021, where this data is one of the inflation indicator data.

Higher than predicted data has the potential to increase treasury yields and press gold prices, and vice versa.