Gold gains for third week on banking sector tension
Gold prices ticked up on Friday as investors flocked to the safe-haven metal in the face of the global banking crisis. The metal is set to rise about 2.8% this week. Large U.S. banks injected $30 billion in deposits into First Republic Bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. lenders over the past week. The European Central Bank raised interest rates
Gold prices ticked up on Friday as investors flocked to the safe-haven metal in the face of the global banking crisis. The metal is set to rise about 2.8% this week. Large U.S. banks injected $30 billion in deposits into First Republic Bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. lenders over the past week. The European Central Bank raised interest rates
