The price of gold symbolically grows on Wednesday morning amid falling yields on US government bonds after the speech of Fed Chairman Jerome Powell, according to trading data.

The price of February gold futures on the New York Comex Exchange rose 0.06%, or $ 1.1, to $ 1,819.6 per troy ounce. March silver futures fell 0.04% to $ 22.802 an ounce, Prime reports.

A slight increase in the price of the precious metal was facilitated by a decrease in the yield on ten-year US Treasuries: it dropped to 1.732% from the previous close of 1.746%.

US Treasury yields fell slightly on Tuesday after Federal Reserve Chairman Jerome Powell made it clear that the central bank is likely to begin normalizing policy this year, analysts at Oanda told the Wall Street Journal.