Gold falls amid prospects for further growth of US Federal Reserve rate

Gold prices fell on April 5 morning, and investors assess the prospects for further increases in the base interest rate by the US Federal Reserve, Report informs referring to the auction data.

The price of June futures for gold on the New York Comex exchange fell by $5.7, or 0.29%, to $1,928.3 per troy ounce. May futures for silver fell 0.06% to $24.578 an ounce.

The precious metal is getting cheaper as investors are betting that the Fed will soon continue raising the base interest rate. This will be positive for the national currency and negative for gold.

In addition, the rise in the yield of ten-year US Treasuries to 2.421% from the previous close of 2.412% is also putting pressure on the value of the precious metal.