Gold falls amid rising US government bond yields

Gold prices fell slightly on September 7 morning due to the growth of the yield of an alternative instrument of ‘safe’ investments - US government bonds, Report informs.

The price of December futures for gold on the New York Comex exchange fell by $7.05, or 0.41%, to $1,705.85 per troy ounce. December silver futures fell 0.42% to $17.832 an ounce.

Analysts note the impact of the growth in the yield of US government bonds on the price of gold. The 10-year yield on these bonds has risen for six weeks in a row and now stands at 3.338%.

US government bonds are an alternative investment to gold, so their quotes, as a rule, have multidirectional dynamics.