Gold rises in price amid falling US Treasury yields

Gold prices rose slightly on June 20 morning due to a decrease in the yield of US Treasury bonds as an alternative tool for "safe" investments, Report informs referring to the auction data.

The price of August futures for gold on the New York Comex rose by $4.15, or 0.23%, to $1,844.85 per troy ounce. July silver futures rose 0.48% to $21.688 an ounce.

On June 20 morning, the precious metal market showed positive dynamics, which was facilitated by a decrease in the yield of US government bonds (US Treasuries) to 3.231% from the previous closing level of 3.239%.

In addition, investors favor safe-haven assets such as gold due to high inflation. For example, consumer prices in the US in May accelerated to a maximum since December 1981 at 8.6% from April 8.3%.