Gold falls in price amid rising US government bond yields

Gold prices on September 12 morning were moderately falling due to the increase in the yield of US government bonds, Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange fell by $4.95, or 0.29%, to $1,723.65 per troy ounce. December futures for silver rose 0.27% to $18.817 an ounce.

The yield on ten-year US government bonds (US Treasuries) rose to 3.339% from 3.321% compared with the previous trading day. US government bonds are an alternative investment to gold, so their quotes, as a rule, have multidirectional dynamics.

The next important event, including for the gold market, is the annual inflation statistics in the US, which will be published on September 13. Analysts predict that price growth in the country slowed down to 8.1% in August from 8.5% a month earlier.