The price of gold on Wednesday's trading (31/3) may weaken due to the higher yield on US government bonds.

"Yesterday, the 10-year tenor yields a new high this year around 1.77%. This morning the yield is in the range of 1.73," said Commodity Observer Ariston Tjendra in Jakarta.

He explained that the increase in yields will still occur due to economic recovery expectations in the US.

Last night, a survey of US consumer confidence touched a new high in 1 year in line with optimism for the US's economic recovery.

This result also indicates that household consumption in the US will increase going forward, thus supporting the country's economic recovery.

As for tonight, the market will be watching the release of a private version of the US labor data: ADP Non-Farm Payroll.

This data shows the change in the number of people employed outside the agricultural sector and government during March in the US.