Gold falls amid rising US government bond yields

Gold prices fell on Wednesday morning due to the increase in the yield of US government bonds, Report informs, citing auction data.

The price of August futures for gold on the New York Comex exchange fell by $13.7, or 0.74%, to $1,834.7 per troy ounce. July silver futures fell 1.01% to $21.468 an ounce.

The yield on ten-year US government bonds (US Treasuries) rose to 2.866% from the previous close of 2.844%. The indicator is growing for four trading sessions in a row, from 2.742%. US government bonds are an alternative investment to gold, so their quotes, as a rule, have multidirectional dynamics.