Gold rises as global banking sector fears persist

By Xu JingUnreguser

CHICAGO, March 20 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as global banking sector fears persist.

The most active gold contract for April delivery rose 9.30 U.S. dollars, or 0.47 percent, to close at 1,982.80 dollars per ounce.

Gold briefly broke above 2,000 dollars as UBS's takeover of Credit Suisse stoked fears about more banking-sector fallout, triggering huge safe haven demand for gold.

Falling U.S. dollar index also supported gold.

Investors are waiting for the results of the Federal Open Market Committee meeting on Wednesday.

Silver for May delivery rose 18.40 cents, or 0.82 percent, to close at 22.646 dollars per ounce. Platinum for April delivery rose 18.20 dollars, or 1.86 percent, to close at 996.80 dollars per ounce.

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