Gold prices fall amid rising US government bond yields

Gold prices fell slightly on June 21 morning under the pressure of 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 $5.5, or 0.29%, to $1,835.2 per troy ounce. July silver futures fell 0.08% to $21.570 an ounce.

The price of gold is declining under the pressure of rising yields on US government bonds, which grew to 3.273% from the previous close of 3.039%.

US government bonds are an alternative investment in safe-haven assets.

Also, traders continue to assess the situation around the tightening of monetary policy by the world Central Banks, especially in the US. Thus, the head of the Fed, Jerome Powell, said that he and his colleagues are clearly aimed at returning inflation to the target of 2%, and any change in US monetary policy affects the global financial market, an integral part of which is gold.