Gold rises slightly after previous decline

The cost of gold rose slightly on Friday morning after falling the day before.

Report informs citing the auction data that the price of August gold futures on the New York Comex exchange rose by $3.1 (0.16%) to $1,926.85 per troy ounce. July silver futures fell 0.41% to $22.375 an ounce.

A day earlier, the price of the precious metal fell by 1.09%, as markets continued to evaluate the actions of the US Federal Reserve System (FRS) and the speech of the chairman of the regulator, Jerome Powell. Thus, following the results of the June meeting, the Fed kept the base interest rate at the level of 5-5.25%. At the same time, Powell said that almost all members of the Central Bank's Open Market Committee consider it expedient to raise the rate by the end of the year.

In addition, Friday's rise in the price of gold may be caused by a decrease in the yield of US government bonds. The yield on ten-year government bonds (US Treasuries) fell to 3.779% from the level of the last close of 3.799%. US government bonds are an alternative investment to gold, so their quotations usually have multidirectional dynamics.