Gold above $1,900, amid hopes that interest rates will curbed ‎after SVB Collapse

Gold prices stabilized above the important $1,900 level today, Tuesday, amid expectations of a slowdown in the pace of the Federal Reserve (the US central bank) raising interest rates after the collapse of two major regional banks in the United States, which increased the attractiveness of the non-yielding metal.

According to Reuters, gold settled in spot transactions at $1913.54 an ounce by 0053 GMT. There was little change in US gold futures, at $1916.20 an ounce.

Gold prices jumped more than 2 percent on Monday, hitting their highest level since February 3, at $1914.58, despite efforts by US officials to limit the repercussions of the Silicon Valley bank collapse and restore investor confidence in the banking system. Regulators shut down New York-based Signature Bank on Sunday

Silver in the spot market rose 0.1 percent to $21.83 an ounce, while platinum fell 0.1 percent to $995.21, and palladium was unchanged at $1473.33.