"...
Gold poised for best week since mid-Nov on banking sector tension..."
https://www.reuters.com/markets/commodities/gold-poised-best-week-since-mid-nov-banking-sector-tension-2023-03-17/
".... In her latest gold report, Thu Lan Nguyen, head of commodity research at the German Bank, said that gold's path will be determined by the ongoing banking crisis and its impact on the Federal Reserve's monetary policy.
"If further bankruptcies follow or if the market increasingly prices in the risk of contagion effects, interest rate expectations could fall further and the gold price could, in turn, receive further tailwind as a result," she said.
However, Nguyen noted that gold would be vulnerable to a correction if fears of a more significant banking crisis faded.
"US President Biden assured all account holders of immediate and full access to their money at the affected institutions, which should have significantly reduced the likelihood of further stress in the financial system. The Swiss National Bank also came to the rescue by providing liquidity support," she said in the report. "If fears can be allayed, this could, according to our US experts, allow the Fed to raise interest rates further in order to curb inflation, which remains too high. In this case, the gold price would likely give up its recent gains."..."
https://www.kitco.com/news/2023-03-16/Commerzbank-reaffirms-its-gold-forecast-looking-for-prices-to-end-2023-at-1-950-an-ounce.html