Gold's Volatility Continues Amid Banking Crisis and Record Highs.

Gold slipped after rising above $2,000 an ounce for the first time in a year as a deal to buy Credit Suisse Group AG failed to fully ease fears over the global banking sector. Bullion surged 6.5% last week in its biggest advance since early on in the pandemic after several regional American lenders collapsed and concerns grew over the Swiss bank’s health. The ongoing banking woes are spurring bets that central banks may embark on a slower pace of monetary tightening. All eyes will now shift to the Fed’s two-day meeting that culminates Wednesday, “where the outcome is going to be the most difficult to predict in years,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S.