Gold rises in price slightly amid falling US Treasury yields

Gold prices rose slightly due to a decrease in the yield of US Treasury bonds, Report informs, referring to the auction data.

The price of August futures for gold on the New York Comex rose by $2.4, or 0.13%, to $1,827.15 per troy ounce. September silver futures rose 0.05% to $21.198 an ounce.

The precious metal market showed positive dynamics, which was facilitated by a decrease in the yield of US government bonds (US Treasuries) to 3.177% from the previous closing level of 3.194%.

Investors are watching how things will turn out after the G7 countries announced that they would limit Russia's budget revenues from gold. US President Joseph Biden has said that the G7 countries will ban the import of gold from Russia.