Gold closes in on an all-time high thanks to de-dollarization and banking uncertainty

• Gold prices have jumped 8% since the collapse of Silicon Valley Bank.
• The precious metal passed $2,000 per ounce last week and traded at just 21 cents below its all-time high on Thursday, according to Refinitiv.
• Investors have flocked to gold as a safe haven with banking turmoil weighing on other assets.

Gold prices are closing in on an all-time high with ongoing banking turmoil and the de-dollarization movement fueling demand for the precious metal.

Spot prices have jumped 8% since Silicon Valley Bank collapsed on March 10, according to Refinitiv, trading at around $2,028 per ounce at last check.