KONTAN.CO.ID - Gold prices jumped more than 1% and made a run towards the key $1,900 level on Monday as fears of a fallout from the largest U.S. bank failure since the 2008 financial crisis drove investors to the safe-haven asset. Spot gold was up 0.8% at $1,882.70 per ounce, as of 0416 GMT. Earlier in the session, bullion hit its highest level since Feb. 3 at $1,893.96. U.S. gold futures gained 1% to $1,886.50. "Gold has certainly sprung back to life, with safe-haven flows sending prices to within a cat's whisker of $1,900," said Matt Simpson, senior market analyst at City Index.
Gold Bounces 1% as Investors Seek Cover from US Banking Rout
KONTAN.CO.ID - Gold prices jumped more than 1% and made a run towards the key $1,900 level on Monday as fears of a fallout from the largest U.S. bank failure since the 2008 financial crisis drove investors to the safe-haven asset. Spot gold was up 0.8% at $1,882.70 per ounce, as of 0416 GMT. Earlier in the session, bullion hit its highest level since Feb. 3 at $1,893.96. U.S. gold futures gained 1% to $1,886.50. "Gold has certainly sprung back to life, with safe-haven flows sending prices to within a cat's whisker of $1,900," said Matt Simpson, senior market analyst at City Index.