Gold rises as U.S. bonds yields fall

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as U.S. Treasury yields fell.

The most active gold contract for June delivery rose 13.4 U.S. dollars, or 0.76 percent, to close at 1,780.2 dollars per ounce.

Gold found additional support as U.S. dollar index went weaker, the price of bitcoin fell, and COVID-19 situation in Europe worsens.

Rising tensions between the United States and Russia also supported gold.

U.S. Department of Commerce reported on Friday that U.S. new home construction jumped to a seasonally-adjusted annual rate of 1.74 million in March, the fastest pace since June 2006 and a 19.4-percent increase from February. Upbeat data capped gold’s growth somewhat.

Gold ended the week rising about 2 percent from a week ago.

Silver for May delivery rose 14.1 cents, or 0.54 percent, to close at 26.105 dollars per ounce. Platinum for July delivery rose 8.5 dollars, or 0.71 percent, to close at 1,208.7 dollars per ounce.