Subsequent processing of SVB bankruptcy and its impact on gold

The federal government has announced that Silicon Valley Bank depositors will be able to withdraw 100% of their deposits starting from Monday. The official statement claims that, after joint recommendations from the Federal Savings Insurance Corporation and the Federal Reserve, and reporting to the President, the Treasury Secretary has signed and approved actions to complete the closure of Silicon Valley Bank, and all depositors can use their deposits, with full protection, from Monday, March 13. Additionally, a new program will be established to provide funds to other banks, allowing them to borrow from the federal government for up to one year using low-risk debt such as government bonds as collateral, in order to meet the needs of all depositors.

This news has had a certain restraining effect on the currently high safe-haven sentiment. Gold is expected to pay close attention to the 1900 resistance level and the 1867-1863 support level. If support falls below this range, it indicates a significant easing of safe-haven sentiment, and the sharp rise in gold prices will be suppressed, with short-term demand for a pullback.