Media ININ Economy We Trust
US gold futures prices jumped more than 1%, surpassing for the first time the level of $2063 an ounce, supported by bets of a slow or suspended interest rate hike, as well as his expectations of a recession this year.
In spot transactions, gold rose 1.4% to $2,042.49 an ounce, the highest level since March 2022.
And gold prices rose after data showed that the consumer price index in the United States rose 0.1 percent last month, after rising 0.4 percent in February, which reinforced hopes that the Federal Reserve is close to ending a series of monetary tightening measures.
These expectations were boosted by the minutes of the Federal Reserve’s March meeting, which indicated that many monetary policy makers considered pausing interest rate increases and expected the recent pressure on the banking sector to push the economy into recession.
