LAUNCESTON, Australia, March 14 (Reuters) - The gold bulls are running again, hoping that a short-term boost from the collapse of Silicon Valley Bank can be translated into a longer-term rally for the precious metal.
The spot price of gold rallied strongly on Monday after U.S. regulators enacted a series of emergency measures after the failure of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O)
in New York.
Gold ended at $1,913.24 an ounce on Monday, having gained 4.5% since its close on March 9, and closing in on the high so far in 2023 of $1,959.60 on Feb. 2.
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https://www.reuters.com/markets/asia/gold-bulls-hope-short-term-bank-contagion-sparks-longer-term-rally-2023-03-14/
