Gold rises as US gov’t bond yields fall

Gold prices rose slightly on September 8 morning as US Treasury yields fell, Report informs referring to the auction data.

The price of December gold futures on the New York Comex exchange rose by $6.65 (0.34%) to $1,949.15 per troy ounce. December silver futures rose 0.47% to $23.35 an ounce.

The yield on ten-year US Treasuries fell to 4.228% from 4.264% compared to the previous trading day. US government bonds constitute an alternative to gold as a ‘reliable’ asset, so their quotes, as a rule, have multidirectional dynamics.

At the same time, the generally stable gold prices in recent days can be explained by expectations of a stable monetary policy in the US. Markets have their eyes on the Fed meeting on September 19-20. According to CME Group, 93% of analysts predict that the regulator won’t increase the refinancing rate and will leave it at the current level of 5.25-5.5%.