Gold backs down from $2000 mark as investors gauge banking risks

Spot gold was down 0.6% at $1,975.33 per ounce, as of 1035 GMT. U.S. gold futures jumped 0.8% to $1,988.90.

"Gold continues to see safe-haven demand due to the banking crisis and tensions in the market. Also, the increased expectation for the Fed to be less aggressive with rate hikes is helping prices," said Carlo Alberto De Casa, external analyst at Kinesis Money. Amid an ongoing banking crisis, investors will keenly watch a Fed policy decision due on Wednesday. Traders are now pricing in a 59% chance of the Fed holding rates in the current range.

Prices have rallied more than $100 after the collapse of U.S.-based Silicon Valley Bank earlier this month, which ensnared 167-year-old lender Credit Suisse.

Yep, but eventually GOLD will breakout strongly to all time highs and I feel it will be epic.

Can't print gold like usd

Should bankers be taking more Valium?

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