Gold falls in price amid rising US government bond yields

Gold prices on March 29 morning continued to decline for the second day in a row under the pressure of rising US Treasury bond yields, Report informs referring to the auction data.

The price of April gold futures on the New York Comex exchange fell by $18.2, or 0.94%, to $1,921.4 per troy ounce. May futures for silver fell 0.92% to $24.965 an ounce.

The 10-year US Treasury yield rose to 2.481% from the previous close of 2.477%. This puts pressure on gold prices.

According to Oanda analysts quoted by the Wall Street Journal, the price of gold could fluctuate within $1,900-$1,950 as the sell-off in the global bond market seems to be only halting.