XAU to test the daily resistance? Gold price rallied sharply as investors rushed to have assets. Bank stocks, already reeling from two large bank failures in the past week, were under pressure due to the Credit Suisse crisis. Shares of the Swiss lender dropped more than 20% after the chairman of its biggest backer — the Saudi National Bank — said it won’t provide further financial support. Gold price hit a high of $1,937. The US Dollar weas also bid on safe-haven flows and despite producer prices in the US unexpectedly falling in February. This comes following strong consumer prices earlier in the week. However, fresh woes at Credit Suisse saw safe haven buying continue to pick up. This was aided by the sharp drop in yields on US Treasuries.