Gold price drops slightly

Gold fell slightly on Thursday morning after reaching a two-month high the day before, Report informs, citing the auction data.

The price of February futures for gold on the New York Comex exchange gave up 0.2%, or $3.7, to $1,839.5 per troy ounce. March silver futures rose 0.02% to $24.233 an ounce.

This is facilitated by the growth in the yield of ten-year US Treasuries to 1.859% from the previous close of 1.827%.

Analysts said the rise in gold prices on Wednesday was due to a fall in 10-year Treasury yields.