Jakarta - The price of gold on Tuesday (2/11) may move in consolidation as market participants are awaiting the announcement of Tapering to be issued by the Fed on November 4 in the morning.

"Gold prices seem to be still consolidating waiting for the announcement of the tapering event on November 4," said Commodity Observer Ariston Tjendra in Jakarta.

Today, the price movement of the precious metal is estimated to be at the support level of US$1,780-US$1,800 per troy ounce.