Gold is settling above $1,900, amid hopes that interest rate hikes will stop after collapse of SVB

Gold prices stabilized above the important $1900 level on Tuesday, amid expectations of a slowdown in the pace of the Federal Reserve raising interest rates after the collapse of two major regional banks in the United States, which increased the attractiveness of the non-yielding metal.

And gold settled in instant transactions at $ 1913.54 an ounce by 0053 GMT. There was little change in US gold futures at $1916.20 an ounce.

Gold prices jumped more than 2 percent on Monday, hitting their highest level since February 3, at $1,914.58, despite efforts by US officials to limit the fallout from the collapse of Silicon Valley and restore investor confidence in the banking system. Regulators shut down New York-based Signature Bank on Sunday.

Silver in the spot market rose 0.1 percent to $21.83 an ounce, while platinum fell 0.1 percent to $995.21, and palladium was unchanged at $1473.33.