buying Credit Suisse In a rescue effort to stabilize global financial markets, the gold price fell on Monday.

After sliding 1% earlier in the session, spot gold was down 0.7% to $1,973.44 per ounce, starting at 04:04 GMT. U.S. gold futures rose 0.3% to $1,978.40. As part of a deal backed by a massive Swiss guarantee, UBS agreed on Sunday to buy 167-year-old Credit Suisse for $3.23 billion and assume losses of up to $5.4 billion. Due to the demand for safe havens, Credit Suisse was caught up in an increasingly serious crisis triggered by the collapse of the American bank Silicon Valley Bank earlier this month, as a result of which gold rose by more than 8%, or 160 dollars.

Palladium fell 0.4% to $1,414.10, cash fell 1.2% to $22.32 per ounce, and platinum fell 0.6% to $970.27.