Gold rises in price due to high demand

The price of gold rose on Tuesday morning on continued demand, making it more expensive than $1,900 an ounce again, Report informs.

The price of June futures for gold on the New York Comex rose by $8.9, or 0.47%, to $1,904.9 per troy ounce. May futures of silver rose 0.72% to $23.84 an ounce.

According to Commerzbank analyst Carsten Fritsch, quoted by The Wall Street Journal, gold may remain in high demand as an inflation hedge and safe asset due to the ongoing situation in Ukraine.

Fritsch also noted that the observed growth in the yield of US government bonds cannot fully stop the increase in metal prices, but only slow it down.