The United States experienced its largest increase in year-over-year inflation in three years in May, reaching 4.2 %.

According to analysts, “this spike is in line with market expectations, which anticipated the continuation of an upward trend driven by higher energy prices due to the war in Iran.”

In May, energy prices rose 3.9 %. Furthermore, “inflation in energy products accounted for more than 60 % of the overall monthly increase.” Meanwhile, year-over-year, food prices increased by 3.1 %.

Core inflation — which excludes the impact of volatile energy and food prices — rose to 2.9 % year-on-year last month, slightly above April’s 2.8 %.

M.Pino

Source: elconfidencial

(Reference image source: Hobi industri on Unsplash)

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Gold could reach record prices in 2026, according to forecasts from the World Gold Council (WGC) in London, given the increase in demand driven by central banks.

Gold is a safe haven asset that is experiencing an upward trend globally, despite the drop in demand in the jewelry industry due to high prices.

“Experts agree that the precious metal remains a safe haven, especially in times of political or financial instability. The combination of Trump’s escalating trade war, a cautious US Federal Reserve, and uncertain global growth has maintained strong demand for gold from both institutional and retail investors.”

Added to this are the gold reserves held by central banks worldwide to reduce their reliance on the dollar, “a trend that supports the long-term momentum of the gold price.”

Figures from the World Gold Council indicate that central banks around the world “have purchased more than 700 tons of gold in the last 12 months,” clearly demonstrating institutional confidence in the long-term value of the precious metal, particularly in countries like China, India, Turkey, and Russia. This trend is also observed in other nations, such as Poland, Switzerland, and Germany.

M.Pino

Source: euronews

(Reference image source: Scottsdale Mint on Unsplash)

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Cryptocurrency expert Geoffrey Kendrick of Standard Chartered predicts that the value of Bitcoin could reach $150,000 if Donald Trump is re-elected President of the United States.

Kendrick supports his estimates on the value of the market’s leading cryptocurrency by taking into account that “BTC spot exchange-traded funds (ETFs) continue to experience significant inflows.”

The expert noted last Thursday: “I stand by my forecasts of $150k for BTC by the end of 2024 and $200k by the end of 2025.” Adding that as the date of the presidential elections in the United States approaches, the value of bitcoin is gaining strength and generating more confidence in investors.

For this Sunday, June 9, the value of the cryptocurrency stood at USD 69,521, experiencing a slight decrease in the bullish streak in May. On the other hand, the average price of the fee for a transaction in this digital asset reached its highest level since April on Friday, June 7, standing at $80.

M.Pino

Source: coindesk

(Reference image source: engin akyurt in Unsplash)

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During the first month of the year, inflation in the Eurozone has increased by 0.1 %, so the European Central Bank expects the trend to continue in the coming months.

The ECB published this Friday in a press release: “Inflation expectations over the next 12 months increased to 3.3 % in January 2024 from 3.2% in December 2023, while three-year inflation remained unchanged at 2.5 %.”

According to the European regulatory body, nominal income growth expectations remained unchanged at 1.2 %. On the other hand, spending growth expectations for the remainder of 2024 “increased marginally to 3.7 % from 3.6 % in December.”

Regarding unemployment, 12-month expectations in the Eurozone fell to 10.9 %, from 11.2 % last December.

In relation to economic growth forecasts, the trend has been less negative, standing at -1.1 %, compared to -1.3 % in December.

M.Pino

Source: finanzasdigital

(Reference image source: Tabrez Syed at Unsplash)

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Mexico maintains inflation with an upward trend, located at 4.9 %, according to the National Consumer Price Index.

The organization’s report indicates that the increase in the inflation rate has been maintained for three fortnights, with an estimate “well above the average expected by Banco de México (Banxico) for the first quarter of the year, which is 4.3 %”.

According to Bloomberg Línea, various daily consumption items such as tobacco, packaged soft drinks and cigarettes have suffered a price increase due to the annual increase in the Special Tax on Production and Services.

“On the other hand, core inflation, an indicator that does not measure the price movement of energy products or unprocessed foods, increased 0.25 % at a biweekly rate, to stand at 4.78 % at an annual rate,” according to the digital medium.

In contrast to general inflation, the underlying component has maintained its downward trend, reaching the lowest level in 23 fortnights in January.

M.Pino

Source: Finanzasdigital

(Reference image source: Unsplash+, in collaboration with Frank van Hulst)

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Bitcoin, the world’s most widely used cryptocurrency, reached a new all-time high this weekend, close to the $ 35,000 border, although it subsequently lost steam and is now around $ 32,150.

The cryptocurrency, which also trades on weekends, reached $ 34,792 yesterday, its new record, and in this Monday’s session it touched $ 33,665, according to Bloomberg data.

The digital currency has exploded since the beginning of the year bitcoin, which surpassed $ 29,000 ($ 29,292) on Thursday, the last day of 2020, broke the barrier of $ 33,000 ($ 33,277) on Saturday, a jump of $ 4,000.

From December 16 he moves to the heights

On December 16, the cryptocurrency passed the level of $ 20,000 for the first time and reached $ 21,295. From that moment on, it continued to rise, encouraged by the interest of the large fund managers.

On December 19 it surpassed the barrier of $ 24,000; on December 26 it shot up to nearly $ 27,000; and a day later it exceeded $ 28,000.

G. Febres

With information from Bloomberg and international media

La entrada Bitcoin hits new all-time highs opening the year apareció primero en Bitfinance.