Gold rises as Treasury yields fall

Gold rose, with Treasury yields falling after US GDP data highlighted a decline in the pace of inflation.

According to Reuters, the markets’ attention turned to data on individual consumption expenditures to obtain more signals about the strategy of reducing interest rates pursued by the US Federal Reserve.

The price of the yellow metal rose 0.32% to $2,019.124 per ounce at gold futures contracts in the United States, and the price at settlement rose by 0.1% to $2,017.80.

After the GDP data, 10-year Treasury yields fell.

Data showed that the US economy grew faster than expected in the fourth quarter amid strong consumer spending, with growth for the full year reaching 2.5%.