Gold rises on weaker dollar, lower US Treasury yields

The price of gold rose on August 15 morning amid a weakening dollar and a decline in the yield on US government bonds, Report informs referring to trading data.

The price of December gold futures on the New York Comex exchange rose by $6.67 compared to the previous close, or by 0.2%, to $3,389.87 per troy ounce.

September silver futures rose by 0.04% to $38.085 per ounce.

At the same time, the dollar index (the rate against a basket of currencies of six countries - US trading partners) fell by 0.22%, to 98 points.

The weakening dollar increases the demand of holders of other foreign currencies to buy gold.

The yield on ten-year US Treasuries fell to 4.273% from 4.293% at the previous close.

US government bonds are an alternative to gold as a reliable asset, and a decrease in their yield can also contribute to the growth of the precious metal's prices.