CHICAGO, March 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday amid worry over failure of several U.S. banks.
The most active gold contract for April delivery rose 49.30 U.S. dollars, or 2.64 percent, to close at 1,916.50 dollars per ounce.
Banking stocks dropped from the fallout of the Silicon Valley Bank failure. At least 20 regional banks had their trading halted on Monday morning as their stocks fell dramatically. This turmoil in the banking industry drove investors to gold as a safe haven.
Gold found additional support amid dropping U.S. dollar index and treasury yields.
Investors are also waiting for the release of the consumer price index report on Tuesday.
Silver for May delivery rose 1.417 dollars, or 6.91 percent, to close at 21.923 dollars per ounce. Platinum for April delivery rose 42.70 dollars, or 4.44 percent, to close at 1,004.90 dollars per ounce.
