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Gold prices fell 1.5% at settlement, as concerns eased in the banking sector
Gold prices fell by more than 1% at the settlement of trading on Monday, the twenty-seventh of March, amid receding fears of a crisis in the banking system.
Upon settlement, gold futures fell 1.5% to $1953.80 an ounce.
First Citizens agreed to buy Silicon Valley Bank's deposits and loans, including about $72 billion of the bank's assets at a discount of $16.5 billion.
For his part, Philip Stripel, chief market strategist at Blue Line Futures in Chicago, said that there is a calm in the markets and a return to some risky assets.
Separately, the Governor of the Bank of England stated that inflation is likely to decline significantly in Britain, and that further monetary tightening would be required if inflation continues to rise.
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