A bank went bankrupt in U.S. – gold rose sharply in price

17:40 - 13.03.2023

March 13, Fineko/abc.az. The bankruptcy of Silicon Valley Bank in the U.S. had a very serious impact on the markets.

ABC.AZ reports that after the dissemination of this information, many stocks began to fall sharply. After that, gold prices, on the contrary, rose. Silicon Valley Bank customers in a hurry withdrew a deposit of $42 billion in two days.

This led to an increase in gold prices under the influence of the bankruptcy of Silicon Valley Bank. Since 12 March the price of gold per ounce has increased more than by 2% to $1,870. Gold fell after Powell's speech on 7 March.