Gold prices decline

Gold prices on March 31 morning fell slightly after rising 1% the day before, Report informs referring to the auction data.

The price of April gold futures on the New York Comex exchange fell by $12.3, or 0.64%, to $1,921.2 per troy ounce. May futures for silver fell 1.58% to $24.712 an ounce.

Nevertheless, the price of gold continues to be above $1,900 per troy ounce due to the ongoing tensions around Ukraine. According to analysts, gold is not only an excellent hedge fund during times of geopolitical tensions, but also provides a hedge against inflation and even a possible policy mistake by the US Federal Reserve.