Gold is falling amid rising stocks and investors’ assessment of banking risks

Gold prices fell on Monday after the rise in stocks undermined the yellow metal’s attractiveness as a safe haven, while investors were assessing the steps taken by the authorities to allay fears of a crisis in the global banking system.

Spot gold fell 1.4 percent to $1,949.99 an ounce by 1219 GMT. US gold futures fell 1.5 percent to $1,954.20.

Reaching a buyer for Silicon Valley bank deposits and loans helped stocks of European banks recover partially, which in turn led gold to fall below the $2,000 barrier it breached last week.

With regard to other precious metals, spot silver fell 1.2 percent to $22.96 an ounce. Platinum fell 1.1% to $965.94, while palladium increased 0.3% to $1,420.44.