Gold surges by almost 7%

Gold rose in price on October 4 morning, to $1,708.85 per troy ounce, Report informs referring to the auction data.

December futures for gold on the New York Comex rose $6.85, or 0.4%, to $1,708.85 a troy ounce. December silver futures rose 1.53% to $20.905 an ounce.

The prices were buoyed by the decrease in the yield of US government bonds. Thus, the yield on ten-year government bonds (US Treasuries) fell to 3.615% from the level of the last close of 3.651%, and at the beginning of trading on October 3, the figure exceeded 3.8%.