Gold rises amid falling US government bond yields

Gold prices on June 29 morning rose on the decline in the yield of US government bonds, Report informs referring to the auction data.

The price of August futures for gold on the New York Comex exchange rose by $1.4, or 0.07%, to $1,822.6 per troy ounce. September silver futures fell 0.23% to $20.858 an ounce.

On June 29 morning, the precious metal market observed negative dynamics, which was facilitated by a decrease in the yield of ten-year US Treasuries to 3.172% from the previous closing level of 3.207%.

In addition, support for the value of gold is provided by the preference given by investors to safe-haven assets amid high inflation. For example, annual inflation in the US accelerated to 8.6% in May, which is the highest since December 1981.