Sharp Rise in Gold Prices

Gold prices continued to reach unprecedented levels today, Monday, after the latest data showed a slowdown in the pace of inflation in the United States, reinforcing expectations that the Federal Reserve could adopt its first interest rate cut in June. Gold rose in spot transactions by 0.6 percent to $2244.89 per ounce after hitting an unprecedented high of $2262.19 per ounce earlier in the session. U.S. gold futures increased by 1.2 percent to $2265.60 per ounce. As for other precious metals, spot silver fell by 0.4 percent to $25.06 per ounce, platinum decreased by 0.8 percent to $900.74 per ounce, and palladium dropped by one percent to $1004.69.