Jakarta - The price of gold on Friday (5/11) has the potential to strengthen, supported by the tapering decision of the Fed, which is in line with expectations.

"In addition, the Fed's statement that it is not in a hurry to increase its benchmark interest rate also helped increase gold prices," said Commodity Observer Ariston Tjendra in Jakarta.

In addition, market participants will also pay attention to the Non-Farm Payrolls data, the government's version of the US employment data, which will be released tonight.

This data is very influential on the price of instruments in the financial market, including the price of gold.

"The Fed at its last meeting indicated that labor data was the main consideration not to raise interest rates in a hurry. So if the data is good, this can be a reference for raising the benchmark interest rate," he said.

The price of gold is estimated to be at the support level of US$1,770 per troy ounce and resis