Spot gold has just surpassed the $4,420.00/ounce mark, currently quoted at $4,420.15/ounce, up 1.98% on the day; COMEX gold futures main contract is currently quoted at $4,476.30/ounce, up 1.26% on the day.

The Federal Reserve meeting minutes show that Fed officials consider the inflation outlook "highly uncertain," while the renewed escalation of the Iran war "casts a shadow over the inflation outlook." Officials believe the labor market remains stable, with labor demand and supply in balance. In the post-meeting statement, officials almost entirely adopted the language from the June statement, once again reaffirming their commitment to "achieving price stability." They also continue to describe

After the release of the Federal Reserve meeting minutes, the spot gold price saw little volatility and is now up by 3.5%, quoted at $4,489.41 per ounce. As a precious metal with both safe-haven and inflation-hedging properties, the price of gold is often closely linked to the monetary policy direction of the Federal Reserve. The lack of significant fluctuation following the meeting minutes also reflects that current market expectations for Fed policy have already been largely priced in.

Federal Reserve meeting minutes: Most participants support keeping interest rates unchanged, but several participants also favor a rate hike.

Federal Reserve meeting minutes: Many participants believe that if inflation does not continue to decline, it may be necessary to maintain higher interest rates.