Gold falls in price on rising US government bond yields

Gold prices declined on June 8 morning under pressure from rising US Treasury bond yields, reported from the auction data.

The price of August futures for gold on the New York Comex exchange fell by $1.85, or 0.1%, to $1,850.25 per troy ounce. July silver futures fell 0.31% to $22.108 an ounce.

On June 8 morning, gold market saw a negative trend, which is buoyed by the growth in the yield of US government bonds (US Treasuries) to 3.007% from the previous close of 2.97%.

In addition, the pressure on the precious metal is exerted by a more expensive dollar. Thus, the dollar index is growing by 0.23%, up to 102.55 points.

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