Gold held above $1,900 an ounce on Tuesday after jumping more than 2% in the previous session, underpinned by speculations that the Federal Reserve could pause its tightening campaign following the collapse of Silicon Valley Bank in order to avoid a broader financial and economic crisis. A widespread selloff in risk assets also drove investors to rush for gold, as the metal is widely considered as a hedge against economic uncertainties. Money markets are now pricing a 31% chance that the Fed would keep rates on hold next week, with rate cuts expected as early as June and through the end of this year. Still, stronger-than-expected US economic data pointing to a still tight labor market and elevated inflationary pressures supported the case for further monetary tightening. Gold is highly sensitive to the rates outlook as higher interest rates lift the opportunity cost of holding non-yielding bullion and vice versa.