The problems of the US bank, Silicon Valley, rocked global markets and affected bank stocks, increasing interest in gold, which is usually seen as a store of value in times of uncertainty.
price movements
Gold prices recorded a weekly increase of 0.63 percent.
And the yellow metal rose in the last sessions of the week by 2 percent, to end the week at $ 1868.26 an ounce, reaching its highest level since February 14.
And US gold futures contracts for April delivery increased by 2.08 percent, to reach $ 1872.70 an ounce.
On Friday, California banking regulators shut down SVB Financial Group, in the biggest banking collapse since the global financial crisis, and moved quickly to protect depositors at the startup-focused bank.
According to a statement, the regulator has assigned jurisdiction over the bank to the Federal Deposit Insurance Corporation, which will dispose of its assets.
As for other metals, silver recorded a weekly decline of 3.39 percent, despite its rise in Friday trading by 2.32 percent, to reach the level of $20.53 an ounce.
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