Gold prices slipped on Monday as a rebound in equities dented the metal's safe-haven appeal, while investors evaluated steps by authorities to calm fears of a crisis in the global banking system.
Spot gold was down 1% at $1,958.33 per ounce, as of 0947 GMT. U.S. gold futures fell 1.1% to $1,961.30.for Silicon Valley Bank's deposits and loans helped shares in European lenders mount a partial recovery, sending gold further below the $2,000 mark breached last week.
"After kissing the psychological $2000 level last week, bears exploited this resistance to attack. Appetite for the precious metal has also been dampened by a stabilizing dollar and mixed signals on monetary policy from the Fed," said Lukman Otunuga, senior research analyst at FXTM.
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