We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. The sudden shutdown and Sunday’s announcement sent yields lower, lifting gold prices.
With the Federal Reserve reiterating their intentions to continue to hike rates more aggressively to tame rampant inflation, the bank failure could force the central bank to reconsider its hawkish stance. Although the Fed, treasury and banking regulators assured investors that all clients would be granted access to their funds, risks of further contagion has boosted demand for safe-haven assets. While the collapse marks the largest bank failure since 2008, higher interest rates have placed pressure on the financial system. Most Read: US Dollar Slides as SVB Repercussions Stalled by the Fed and the Treasury Department After the financial institution came under scrutiny last week, fears over client’s access to deposits exacerbated concerns. The collapse of SVB (Silicon Valley Bank) has sent jitters through global markets, supporting safe-haven gold. Get My Guide Silicon Valley Bank (SVB) collapse sends Gold higher
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