Gold prices increase slightly

Gold prices rose slightly on April 25 morning, exceeding $2,000 per troy ounce, Report informs referring to the auction data.

The price of June gold futures on the New York Comex exchange rose by $2.9 (0.15%) to $2,002.7 per troy ounce. July silver futures fell 0.57% to $25.38 an ounce.

Markets are awaiting the Federal Reserve’s (FRS) rate meeting on May 2-3. According to the CME Group, more than 87.2% of analysts are forecasting a 25-basis point hike in the discount rate to 5.25%.

The US government bonds market can influence the gold prices as well. The yield on ten-year US government bonds (US Treasuries) fell slightly from 3.5% on the previous trading day. US government bonds constitute an alternative to gold as a reliable asset. Therefore, the price of gold and their profitability, as a rule, have multidirectional dynamics.