Gold price breaks record and exceeds US$ 2,260

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Metal has seen renewed interest this year, as the market awaits an interest rate cut from the Fed. Last week, inflation in the United States recorded a slight increase in February. Gold reached the US$ 2,265.73 mark, according to Bloomberg News Ueslei Marcelino/REUTERS The price of gold broke this Monday a new historical record and surpassed 2,265 dollars (11,350 reais) per ounce (28.35 grams) in a context in which investors anticipate a cut in interest rates by the Federal Reserve (Fed, central bank of the United States). Gold reached US$2,265.73, according to Bloomberg News, surpassing the previous record registered a few days ago. The metal has seen renewed interest this year, as the market awaits an interest rate cut from the Fed. Last week, inflation in the United States registered a slight increase in February, due to the increase in fuel and food prices. According to the PCE index released by the Department of Commerce, preferred by the Federal Reserve (Fed, the American central bank), consumer prices increased 2.5% in February over 12 months, against 2.4% in January. However, in the monthly estimate, they slowed down in February compared to January: 0.3% versus 0.4%. These indicators were in line with market expectations and analysts, who predicted the numbers accurately, according to the consensus collected by the specialized company MarketWatch. On the other hand, so-called core inflation, which excludes food and energy prices, is falling both monthly and 12-monthly. In February, the underlying PCE index fell to 0.3%, while in January it was 0.5%. In the annual estimate, it fell to 2.8%, compared to 2.9% in the previous month. The Fed, however, wants inflation to decline to 2%, a long-term goal it expects to reach by 2026. The recent data has led some Fed officials to question officials’ recent decision to make three cuts in key interest rates this year. . “In my opinion, it is appropriate to reduce the total number of rate cuts or delay them further in the future,” Fed Governor Christopher Waller said at a conference Wednesday in New York. Futures traders currently believe there is a slightly less than 65% probability that the Fed will begin these reductions in mid-June, according to research from CME Group. Prices were also affected by fears of an escalation in the conflict between Israel and Hamas, as well as the war in Ukraine. PF uses particle accelerator to analyze suspected gold of illicit origin

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