Gold's Record Highs and Banking Risks Shape Market Trends.

Gold prices surged 10% in a matter of days, trading at record highs in some currencies and nearing all-time peaks in US dollar terms, as banking sector turmoil sent investors flocking to the safe haven asset. The US Federal Reserve meeting on Wednesday is being closely watched, with investors predicting rates will remain unchanged. The failure of Silicon Valley Bank this month was "a gamechanger" for gold, with the Fed having to choose between higher inflation or a recession/financial instability, both of which are bullish for gold.