Gold rises in price amid cheapening of US government bonds

Gold prices rose on April 11 morning after a notable decline the day before, which might be related to lower US government debt yields, Report informs referring to the auction data.

The price of June gold futures on the New York Comex exchange rose by $10.5, or 0.52%, to $2,014.35 per troy ounce. May silver futures rose 0.9% to $25.137 an ounce.

The cost of gold is rising after falling on April 10, when the price of the precious metal decreased by 1.56%.

The yield on ten-year US government bonds (US Treasuries) fell to 3.404% from 3.415% compared to the previous trading day. US government bonds are an alternative to gold as a “reliable” asset, so their quotes, as a rule, have multidirectional dynamics.

Also, the markets are waiting for the economic statistics of the current week. On April 12, the annual inflation data in the US and the minutes of the March meeting of the Fed will be published.