Gold jumped above $2,200 an oz for the primary time after the Federal Reserve maintained its outlook for 3 price cuts this yr, suggesting it isn’t alarmed by a latest uptick in inflation.Bullion superior to a report in early buying and selling, earlier than paring beneficial properties. It’s surged since mid-February, underpinned by long-standing helps together with heightened geopolitical dangers and shopping for by central banks, led by China. The speedy ascent has shocked many seasoned market observers, nevertheless, as there hasn’t been a transparent catalyst.