Against the background of the weakening of the US dollar, gold prices moved to growth. The attractiveness of this precious metal for investors has also increased due to the decline in the yield of US government bonds.
The dollar index fell by 0.24% on Thursday. The yield on ten-year US government bonds fell to the lowest level in four months. On July 8, gold rose by 0.44% to $1811.3 per troy ounce.
A sharp decline in the yield of US treasury bonds has a positive effect on the dynamics of gold prices.
In addition, there was no unpleasant news for this precious metal in the fact that investors did not find any hints of a possible change in the policy of the Federal Reserve System in the minutes of its last meeting. The participants of the meeting did not find any reasons to change the existing parameters of the Federal Reserve’s policy.
Now investors are waiting for the results of the revision of the strategy of the European Central Bank.