Gold extended gains since the opening of the week amid increased bets that the Federal Reserve (Fed) will begin easing policy in September.
The confidence grew stronger following the speech of Fed Chairman Jerome Powell in Jackson Hole that his officials are ready to readjust the economic policy of the United States.
At 9.20 am, the price of gold was at $2,512.46 which is a slight decrease of 0.22% in the opening of Asian trading on Tuesday.
Last Friday, Jerome Powell said he was confident that inflation was heading toward the 2% target but the Fed needed to examine concerns about an increasingly risky labor market.
Powell signaled the central bank to cut interest rates while adding to his worries about economic data related to labor figures in the United States.
Meanwhile, the peak of the price of the yellow metal was also strengthened by the increase in tension in the Middle East where the conflict between Israel and Hezbollah became more worrying last weekend.
US Treasury bond yields recovered as the benchmark US 10-year note rose one basis point to 3.81%. This sentiment can reduce bets that the Fed will cut rates by 50 basis points in September.
For now, the market will focus on important Fed data, especially the employment market such as August's (NFP) which determines the confidence of the next policy easing.
