Jakarta - The price of gold on Thursday (28/10) is expected to remain volatile in the range of US$1,780-US$1,810 per troy ounce.

"Market players are still wary of the US monetary tightening policy which could encourage the strengthening of the US dollar and depress the price of gold," said Commodity Observer Ariston Tjendra in Jakarta.

The US Central Bank will announce its latest policy in a week on November 4.

Tonight the US will release third-quarter GDP data at 19.30 West Indonesia Time.  This data can be a driver of gold prices.

Better-than-projected data could trigger the strengthening of the US dollar and depress gold prices or vice versa. A recovering economy could support tighter monetary policy.