Gold prices are seen to move relatively stable in the range of 1720-1750 US dollars per troy ounce, in line with the lack of new sentiment after the US released a large stimulus.

"The rise and fall of US government bond yields are still the driving force for gold prices lately. The increase in yields depresses gold prices and vice versa," said Commodity Observer Ariston Tjendra in Jakarta on  Tuesday (23/3).

Tonight, US Central Bank Governor Jerome Powell and US Finance Minister Janet Yellen will hold a hearing before the Parliament regarding the development of the CARES government assistance program of US$2.2 trillion for MSMEs, education, and others.

"If there is a statement that pertains to the prospect of rising inflation in the US, the 10-year tenor yield could increase again and put pressure on gold prices," said Ariston.