Gold futures climbed on Monday to settle at their highest in about 11 months, with the precious metal getting a boost as a haven investment on growing concerns surrounding the banking crisis. Gold has been rallying “in part because of heightened uncertainty over the traditional banking system over the past couple of weeks or so, as well as safe haven demand boosting the appeal of precious metals,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. Gold for April delivery GCJ23 rose $9.30, or 0.5%, to settle at $1,982.80 an ounce on Comex. Based on the most-active contract, prices settled at their highest since April 18, according to Dow Jones Market Data.
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