The cost of gold during yesterday's trading reached a new all-time high, exceeding $2272 per troy ounce. The growth driver was the report on the Fed's preferred inflation indicator released last week, which slowed down in February, Investing.com writes.

At the end of the trading session, June futures on the Comex exchange rose 0.28% to $2272.50. The growth of gold quotations in March turned out to be the most intensive for the last 3 years.

Lower inflation figures strengthened expectations among players that the regulator will reduce the key rate in June, notes Investing.com. As the portal's specialized monitoring tool shows, the corresponding probability is estimated by traders at 60%. When the rate is lowered, the dollar rate falls, which turns out to be favorable for gold buyers using foreign currency and stimulates demand for the precious metal.

Other drivers of growth, which manifested themselves in March, were purchases of gold by central banks and increased demand for safe assets, the portal reports.