Gold prices closed down on Thursday (March 16) as investors sold off safe-haven assets following the resolution of the banking crisis.
Gold futures contracts fell by $8.30 or 0.43%, closing at $1,923 per ounce. Meanwhile, silver futures contracts dropped by 19 cents or 0.87%, closing at $21.692 per ounce. Platinum futures contracts increased by $6.80 or 0.70%, closing at $977.10 per ounce, while palladium futures contracts also increased by $6.80 or 0.70%, closing at $977.10 per ounce.
Investors are reducing their holdings of safe-haven assets following the easing of concerns about the banking crisis after Credit Suisse announced a loan of 50 billion francs from the Swiss National Bank under the covered loan procurement and short-term liquidity procurement project.
In addition, large Wall Street banks, including JPMorgan Chase and Goldman Sachs, announced a total of $30 billion to boost liquidity for the First Republic Bank (FRB), a regional bank.
The Spot Market is Open
Friday March17, 2023
| Metals Updated at | USD Bid/Ask | Change | Low/High |
| Gold 11.30 | 1,927.70 1,928.70 | +8.20 +0.40% | 1,918.10 1,930.60 |
| Silver 11.30 | 21.90 22.00 | +0.23 +1.05% | 21.85 22.04 |
| Platinum 11.30 | 982.00 992.00 | +10.00 +1.03% | 972.00 992.00 |
| Palladium 11.30 | 1,380.00 1,530.00 | +22.00 +1.62% | 1,353.00 1,530.00 |
| Rhodium 05.00 | 8,000.00 10,000.00 | 0.00 0.00% | 8,000.00 10,000.00 |