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Gold prices regained some gains, Monday, and erased part of the losses recorded earlier, amid the return of concerns about the global banking sector to the fore, despite the rescue efforts made by the bank “UBS” to acquire its competitor “Credit Suisse” to achieve stability. in financial markets more broadly.
And gold rose in spot transactions 1.87% to 2010.40 dollars an ounce (an ounce) for the first time in 12 months, after declining by one percent earlier in the session. And US gold futures jumped 1 percent to 1994.10 dollars.
Yesterday, UBS agreed to buy Credit Suisse for $3.23 billion, bearing losses of up to $5.4 billion, in a deal backed by a huge Swiss guarantee.
Credit Suisse was affected by a widening crisis that followed the collapse of Silicon Valley Bank in the United States, and gold rose as a result of that by more than 8%, or $ 160, amid high demand for safe havens.
And the dollar rose 0.1%, making the yellow metal expensive for buyers abroad.
With regard to other precious metals, silver rose in spot transactions 1.9% to 22.745 dollars an ounce, platinum lost 0.8% to 968.39 dollars, and palladium rose 1.18% to 1402.50 dollars. (Reuters)
