Gold prices hits all time highest levels on Monday, because when markets assessed the effect of the Fed and other major central banks’ emergency liquidity measures amid growing fears of a banking collapse.
Once struggling bank Credit Suisse Group AG was acquired by Swiss rival Union Bank of Switzerland Group AG in a deal aided by regulators, the action was taken shortly after
Gold Prices Remain Elevated, Fed Policy meeting this week
Although gold futures increased 0.7 percent to 1,987.40 dollar per ounce by 17:00 GMT, spot gold held steady around 1,983.50 dollar per ounce (17:00 GMT).
Yet the red metal was still suffering significant losses from the previous week, raising worries. That the demand for the metal would wane as a result of adverse worldwide economic conditions.