Gold falls in price on rising US government bond yields

Gold prices declined on June 8 morning under pressure from rising US Treasury bond yields, Report informs referring to the auction data.

The price of August futures for gold on the New York Comex exchange fell by $1.85, or 0.1%, to $1,850.25 per troy ounce. July silver futures fell 0.31% to $22.108 an ounce.

On June 8 morning, gold market saw a negative trend, which is buoyed by the growth in the yield of US government bonds (US Treasuries) to 3.007% from the previous close of 2.97%.

In addition, the pressure on the precious metal is exerted by a more expensive dollar. Thus, the dollar index is growing by 0.23%, up to 102.55 points.