Gold prices fell for a second straight session on Monday as the U.S. dollar firmed, while investors weighed measures taken by authorities to assuage fears of a crisis in the global banking sector.
Spot gold was down 0.5% at $1,967.86 per ounce, as of 0632 GMT. U.S. gold futures slipped 0.8% to $1,968.90.First Citizens BancShares Inc willall of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation. The news cast an uneasy calm over fragile markets on Monday.
Gold had risen above the $2,000 mark after the sudden collapse of two U.S. lenders, but has since pulled back from those levels after rescue measures by authorities, including UBS' takeover of ailing Credit Suisse. Markets are pricing in a 70% chance of the Fed standing pat on interest rates at its May meeting, according to the CME FedWatch tool.
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