Jakarta - The gold price on Thursday (21/10) has the opportunity to strengthen, supported by the sentiment of rising inflation.

"The market is hedging against inflation by buying gold assets," said Ariston Tjendra, a commodity observer in Jakarta.

According to Ariston, this increase in inflation is due to depressed supply and triggered by an increase in demand or consumption in line with the improving global economy amid the pandemic.

Recent increases in commodity and energy prices have also pushed up global inflation.

"So for now, the market still sees the inflation issue as the main issue, setting aside the tapering issue, which the market has anticipated for a long time," he said.

Market participants were waiting for the US weekly unemployment benefit claims data due later tonight.

"If the data shows a decrease in claims that exceed expectations, the tapering issue may strengthen again and this c