Gold prices regained some gains today, Monday, and erased part of the losses they 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 rival Credit Suisse to stabilize the financial markets. more broadly.
Spot gold rose 0.1% to $1,988.89 an ounce by 0624 GMT, after falling 1% earlier in the session. US gold futures jumped 1% to $1,994.10, according to Reuters.
UBS agreed on Sunday 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, spot silver fell 0.7% to $22.43 an ounce, platinum lost 0.8% to $968.39, and palladium fell 0.5% to $1412.48.
