Gold prices surge as banking crisis looms

Gold prices have surged above $2,000 an ounce amid concerns over the banking sector, elevated inflation, and expectations of a 25 basis point rate hike. The precious metal has seen a "flee from the banking system," with money moving into gold, according to Gareth Soloway, chief market strategist at Inthemoneystocks.com and verifiedinvesting.com. Soloway expects gold prices to reach $2,100 by the end of this year and surpass $3,000 by 2024. The coming years could also be a boon for mining stocks, he said.