MoneyWorks4Me

Gold futures settle near 11-month high on bank jitters

18 Mar 2023 Evaluate
Gold futures settled near 11-month high on Friday, whetted by the safe haven appeal of the bullion amidst global bank turmoil. The unexpected fallout of three US banks-Silvergate Capital, Signature Bank (SBNY) and Silicon Valley Bank, fuelled spooked concerns about potential recession. Meanwhile, the yellow metal for the most active contract jumped by 8.1%, marking sharpest weekly gain in three years.

Gold futures for April rose by $50.50 or 2.6% to finish at $1973.50 ounce on the Comex division of the New York Mercantile. While, spot gold added by $69.73 or 3.63% to $1,989.25 per ounce.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: