Price of gold falls slightly due to yield of US gov't bonds

The price of gold declined on Wednesday morning under pressure from rising US Treasury yields, Report informs.

The price of June futures for gold on the New York Comex fell by $6, or 0.31%, to $1,921.5 per troy ounce. May futures for silver fell 0.67% to $24.37 an ounce.

The precious metal fell under pressure from the yield of ten-year US Treasuries as an alternative for "safe" investments, which showed an increase of up to 2.631% from the last close level of 2.554%.

According to Daily FX analysts, quoted by the Wall Street Journal, the growth in US government bond yields remains problematic for the precious metal.