“If inflation continues to fall and, according to our estimation, sustainably downwards towards the target, we can close to the summer already slowly start easing our foot off the brake pedal of monetary policy,” Rehn said in a statement.

The European Central Bank kept borrowing costs at record high last week but policymakers indicated they were preparing for a first cut in interest rates.

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MOSCOW, March 17 (Reuters) – President Vladimir Putin won a record post-Soviet landslide in Russia’s election on Sunday, cementing his already tight grip on power in a victory he said showed Moscow had been right to stand up to the West and send its troops into Ukraine.

Putin, a former KGB lieutenant colonel who first rose to power in 1999, made it clear that the result should send a message to the West that its leaders will have to reckon with an emboldened Russia, whether in war or in peace, for many more years to come.

The outcome means Putin, 71, is set to embark on a new six-year term that will see him overtake Josef Stalin and become Russia’s longest-serving leader for more than 200 years if he completes it.

Putin won 87.8% of the vote, the highest ever result in Russia’s post-Soviet history, according to an exit poll by pollster the Public Opinion Foundation (FOM). The Russian Public Opinion Research Centre (VCIOM) put Putin on 87%. First official results indicated the polls were accurate. The United States, Germany, the United Kingdom and other nations have said the vote was neither free nor fair due to the imprisonment of political opponents and censorship.

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A wider robust fundamental backdrop added support, including strong physical demand in Asia and central bank purchases as well as billion’s traditional safe-haven cachet. Central banks have been net buyers of gold for eight consecutive months.

“The move became self-fulfilling with stops triggered and then of course that brings in the momentum funds,” 

From a technical analysis perspective, gold may still have further upside towards $2,180, a Fibonacci projection level.

“The coming days, especially with the critical economic data releases and (Federal Reserve Chair Jerome) Powell’s testimonies, will be crucial in determining whether gold can maintain its current trajectory or if we’ll see a period of consolidation,”

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The world’s largest cryptocurrency hit a high of $69,202, topping November 2021’s all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. It then reversed course and was recently down around 7% at $63,400.

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