Gold prices climbed over 1% to settle at their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion.

Gold gained 1.07% to settle at $1,931.3. Gold prices climbed over 1% to settle at their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion.