Gold cracked $2,000 an ounce on Monday for the first time in a year, as metal traders reacted to Sunday’s news that a deal was reached for UBS to buy Credit Suisse.
Over the past year, relentlessly rising interest rates (because of the global fight on inflation), are putting pressure on borrowers, who are reportedly deeper in the red than ever before.
The gold market continues to experience tightness due to difficulties expanding existing deposits, and a pronounced lack of large discoveries in recent years.