Gold rises on first day of trading week

Gold prices rose slightly on Monday morning after a four-day decline, Report informs.

The price of the June futures for gold on the New York Comex exchange rose by a symbolic $1.2 (0.06%), to $2,020.8 per troy ounce. July silver futures rose 0.26% to $24.212 an ounce.

Gold is rising in price after its value fell by 1.39% in the previous four trading days.

Last week, the US macro data also contributed to the cheapening of gold. Thus, annual inflation in the US slowed to 4.9% from 5% a month earlier, the lowest figure for two years. And on Friday, the University of Michigan released its own preliminary estimate of US consumer sentiment in May. The index, which reflects the degree of household confidence in the economy, fell to 57.7 points from 63.5 points in April. Experts predicted a decrease to 63 points.