Gold rises amid declining US government bond yields

Gold prices rose slightly on October 26, as markets are still waiting for the upcoming steps from the US Fed, while US government bond yields fell slightly, Report informs referring to the auction data.

December futures for gold on the New York Comex rose $5.35, or 0.31%, to $1,663.35 a troy ounce. December silver futures rose 0.8% to $19.503 an ounce.

Markets in recent days are waiting for further action from the Fed. According to the CME Group, 91.7% of experts predict that in November the Fed will again raise the discount rate by 0.75 percentage points, to 3.75-4% per annum.

In addition, the yield on ten-year government bonds (US Treasuries) is reduced to 4.08% from the last closing level of 4.11%.