Gold prices fell on April 4 morning under the pressure of rising yields on US government bonds, investors are also evaluating the prospects for raising the discount rate of the Federal Reserve System, Report informs referring to the auction data.
The price of June futures for gold on the New York Comex exchange fell by $5.8, or 0.3%, to $1,917 per troy ounce. May futures for silver rose 0.17% to $24.695 an ounce.
On April 4 morning, the value of the precious metal was declining amid rising US government bond yields. Thus, the yield of ten-year US Treasuries increased to 2.414% from the previous closing level of 2.375%.
In addition, markets continue to evaluate strong data on the US labor market, which raised expectations for further increases in the base interest rate by the US Federal Reserve. Unemployment in the US in March fell to 3.6% from 3.8% in February, analysts had expected a decline to only 3.7%.
The precious metal has been under pressure from a strong US jobs report.