While the recent banking crisis has led to expectations of a less aggressive U.S. Federal Reserve, the price of gold rose slightly today, en route to its best monthly performance since July 2020, making The ingot is an attractive bet.

At 03:21 GMT, spot gold was up 0.1% to $1,981.59 per ounce, while U.S. gold futures rose 0.1% to $1,982.00. For its part, the bullion was ready for a second consecutive quarterly gain, up 8.6% so far. After the sudden collapse of two regional American creditors earlier this month, gold surpassed the $2,000 mark. This led to speculation that the Fed could suspend rate hikes in order to avoid greater fallout from the turmoil in the global banking system. Rising interest rates tend to weaken the attractiveness of zero-yielding bullion, despite gold being seen as a safeguard against economic uncertainty.

While palladium fell 0.5% to $1,457.39, platinum was sluggish at $986.12 and spot silver remained stable at $23.87 per ounce.