Natixis raises its 2023 gold price average but doesn't see $1,900 holding as banking crisis fears start to ease Natixis gold bankingcrisis
- The U.S. government’s commitment to ensuring depositors’ money is safe at failing regional banks appears to be calming fears of a major banking crisis. And while improving optimism in the marketplace could weigh on gold in the near term, one market analyst says he sees a higher price floor in place.
Dahdah’s short-term outlook comes as gold prices test support just above $1,900 on Tuesday. April gold futures last traded at $1,911.90 an ounce, down 0.24% on the day. While off Monday’s highs, gold prices are still up more than 2% from Friday when government regulators first announced that the Federal Deposit Insurance Corporation would take over Silicon Valley Bank.
Dahdah said that the Federal Reserve’s monetary policy stance remains the most significant factor for gold. He explained that the potential for a larger banking crisis could keep the U.S. central bank from aggressively raising interest rates this year.
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