Gold prices rise as US Treasury yields fall

The price of gold has risen amid falling yields on US government bonds, Report informs referring to trading data.

The price of December gold futures on the New York Comex exchange rose by $12.2 compared to the previous close, or by 0.36%, to $3,394.8 per troy ounce.

At the same time, the September silver futures rose by 0.36% to $38.112 per ounce.

The yield on ten-year US Treasuries fell to 4.309% from 4.327% at the previous close. US government bonds are an alternative to gold as a reliable asset, the decline in the yield of which can also contribute to an increase in the price of gold.