Gold Price Forecast: Down over 1.0% as banking crisis fears ease, double top forming

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• Gold price pullback picks up pace after news First Citizens Bank has taken over SVB.
• US Treasury yields rise and reduced demand from India add downside pressure for Gold price.
• Gold remains in an uptrend but double bottom threatens with neckline at key $1,934.

XAU/USD trades in the $1,950s at the time of writing, down over 1.0% on the day, as easing bank stress has lessened Gold’s safe-haven appeal. Rising US Treasury bond yields, a robust US Dollar and reports of falling demand from India – one of Gold’s chief markets – are further depressing prices.